Oil is testing the support level 51.88. If the price doesn't break out the level, the medium-term uptrend will continue, and the target in Target Zone 4 [54.72 - 54.21] will be reached. If the bears break out the support of 51.88, then a medium-term correction in the trend key support [49.39 - 48.94] zone will occur. The short-term timeframe shows that the main scenario to sell oil with the target in Intermediary Zone [51.66 - 51.43] has worked out. Last Friday, the trend key support was tested and held. Traders also tested the local resistance of Additional Zone [52.66 - 52.55]. This resistance will be significant ... (full story)