- Major support - $44.40 (Jul 11th low)
- US oil breaks major support at $44.40 and declined till $44.23 at the time of writing. It is currently trading around $44.36.
- Any break below $44.40 will drag the commodity down till $43.30/$42.85 (161.8% retracement of $44.40 and $46.94).
- On the higher side resistance is around $45 and any break above targets $45.22 (21 4H MA)/$45.60 (55 4H EMA)/$46.05 (20th Jul high).
It is good to sell on rallies around $44.40-$44.45 with SL around $45 for the TP of $43.30/$42.85
