Intraday Support : 38.30. 38.00, 37.20                          Intraday Resistance: 39.00, 40.00, 40.50, 41.80

Oil Forecast – Daily Chart Technical Analysisoil forecast daily 29-3-2016

Oil dipped lower, towards the main broken resistance around 38.00. Holding above that broken resistance and potential support keeps the bullish resumption scenario valid.

Oil Forecast for today: Bullish as long as above 38.00, targeting 40.00 and 41.50. A break below 38.00 may extend the downside move towards 36.00 levels.

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