Traders be warned

After "fooling around" enough to question the continuation of the down move we had this week Oil decided to break the levels of support/resistance that have been formed this week and jumped back up almost to previous week high probably on some news of which I am currently not aware right now and quite frankly it does not matter either. What matters is if it will continue up or no. The answer to that question depends on the next move because as of this moment it is obvious that we will have some resistance at the current levels and maybe a little higher. That resistance, strong or weak as it is will most likely make some of the lucky bulls (yes insiders too - these one know what happens before everyone else and they are like flies)  that got early in to this up move to mark their profits just enough for the always late bulls to get on board. The sustained move after the range is on the upside and is this one even though its not made on lower volatility but in what seems to be specific for Oil - volatility breaks which leads to the title of this post - traders be aware, while you can "wake up" with a large gain out of nowhere if you do not really know what you are doing you can also have your cash depleted as soon as you can say "Oil" - so to speak. That being said the expectations are for a retracement followed by some late bulls and from there it remains to be seen. Support is between 57.75-57.90 and the late bulls will get on board only above that - be my guest if you like but read the disclaimer first. And, almost forgot currently a weaker resistance is formed at 57.65-57.68 probably subject of change soon as the price is being decided. Pretty image bellow