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51
Short-term bearish.
(By Yann Quelenn)
• Crude oil is trading lower. Hourly support is
given at 46.46 (17/08/2017 high). Strong
resistance can be found at 50.41 (31/07/2017).
Expected to show continued short-term
sideways move.
• In the long-term, crude oil has recovered after
its sharp decline last year. However, we consider
that further weakness are very likely. Strong
support lies at 35.24 (05/04/2016) while
resistance can now be found at 55.24
(03/01/2017 high).
