In the last week, UK Oil has surged higher from support at the key $43 level moving to its highest level in three months above $46. In the few days before the recent surge, it eased back to this level and enjoyed some support. In the two weeks prior, UK Oil surged from its lowest level in five months below $36.50 back up to the key $43 level which has again provided stiff resistance before it was able to break through to above $45 before falling back sharply to $43. Leading up to the strong surge, UK Oil fell away strongly from the key level of $43 which now continues to play a role and in recent time, has provided resistance, and more recently, support. For the last two months or so, this level has been providing stiff resistance and constant downward pressure on prices. During this time, UK Oil has made repeated attempts to break through the long time key level of $43 so it is quite significant that it has now broken through this level and received support.