US oil to retrace into $83.45-$84.35 range
USO•US oil is expected to retrace into the $83.45-$84.35 per barrel range after failing to break resistance at $88.61. A break below $83.45 could open the way toward $78.18.
1. Oil faces support test
US oil is expected to test hourly support at $85.18. A break could trigger a fall into the $82.85-$84.02 range, while stabilization around $84.35 could suggest the bounce may extend.
