Oil met the target of 57.60-80 and managed to push for a further drop.
As we see over the chart, prices remain below the downtrend resistance line of 59.00, which could keep up the pressure over the market as support at 54.80 could lead to a rebound.
The market managed to hit a 56.25 low so far closing from the support of 56.00.
Above 59.00 more advance will be expected with resistances at 60.10-30 and 62.60.
First Intraday resistance is at 57.20.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 56.00 | 57.20 |
| LEVEL2 | 54.80 | 59.00 |
| LEVEL3 | 50.50 | 60.10-30 |
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