(10 JULY 2017)CRUDE OIL:Profit-taking after the strong increase.

Profit-taking after the strong increase.

(Yann Quelenn )

• Crude oil is back to bearish again. Support is 

given at 42.05 (21/06/2017 low). Expected to 

show continued weakness. 

• 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).