The current week on the oil market began with a bullish gap, where the opening took place over last week highs and also above the key resistance at 52.20.

Price from opening rises to higher and higher levels and reached a maximum in the vicinity of 54.50. These price levels were seen in July last year.

Strong growth is currently heading price to key resistance area, which is located in the vicinity of 55.50. There, at the opening session of the 6th July 2015 was in turn formed a bearish gap, which has not yet been completely closed and aftermath there was a strong sell-off.

One can therefore expect that in the near future price will attempt to test resistance mentioned a moment ago. We can search opportunity to enter into long positions, according to current bullish trend.

The potential opportunity may appear after correction of recent increases. Currently, the level of support provides broken resistance at 52.20, but also the area which determines the today’s bullish gap. There also we should watch for buying opportunities.

The above analysis was carried out on the account with broker XM, which offers $ 30 to start!1212-ropa

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