Crude Oil Trading: Weekends Post for the week 5th Dec- 9th Dec

OPEC cut production and oil rally. Now it is heading to the neckline of the inverse HS. Will it break this time?




Daily support/resistance on 5th Dec: 51.44, 50.96
Weekly support/resistance from 5th Dec- 9th Dec: 50.56. 48.31
Monthly support/resistance for Dec: 48. 46.05 (CLF7:  48.13, 46.43)
2016 Yearly support/resistance: 40.90, 48.56