Crude Oil broke below the support of 58.50 which could add pressure back on the market.
As we see over the Intraday chart, prices face resistance at 58.80. If the market holds below the said price, the pressure could continue, with support at 56.00 keeping the chance for a rebound correction.
Below 56.00 more of a drop is expected with support at 54.80-90.
Above 58.80 more advance is likely with resistances at 60.50-70 and 62.60.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 57.30 | 58.80 |
| LEVEL2 | 56.00 | 60.50-70 |
| LEVEL3 | 54.90 | 62.20 |
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