(17 APRIL 2017):Crude Oil (in USD):Breaks rising trendline.

(17 APRIL 2017):Crude Oil (in USD):Breaks rising trendline.

18 April 2017, 14:10
Jiming Huang
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oil

Breaks rising trendline. 

• Crude oil has pulled-back after its recent sharp 

rise. Support can be located at 50.71 (08/02/2017 

low). Hourly resistance can be located at 54 

(07/04/2017 high then strong resistance stands at 

55.24 03/01/2017 high). 

• 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 24.82 (13/11/2002) while 

resistance can now be found at 55.24 

(03/01/2017 high).

(By Peter Rosenstreich )

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