US oil to fall into $100.30-$100.86 range
USO•The US oil December contract is expected to fall into a range of $100.30 to $100.86 per barrel after breaking support at $101.76.
USO•USO•USO•The US oil December contract is expected to fall into a range of $100.30 to $100.86 per barrel after breaking support at $101.76.
The analysis identifies the target zone using the 61.8% and 76.4% projection levels of an uptrend from $97.94. A break above $102.31 may lead to a gain to $103.21-$104.11; the daily chart's rising channel suggests a target around $111.32, while support is at $99.19.
