SINGAPORE: US oil may test a resistance at $116.38 per barrel, a break above could lead to a gain at $121.78.

This is the strongest resistance that oil may face ever since it rose for $93.54.

Oil’s behaviour around this barrier remains unclear.But the odds are in favour of bulls, because of the strong momentum accumulated on Monday. A break below $112.02 may cause a fall to $107.66.

US oil may test resistance at $107.66

Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.