CRUDE OIL: Vulnerable, Retains Bearish Bias

24 April 2017, 16:36
CRUDE OIL: The commodity looks to weaken further after selling off the past week. On the downside, support resides at the 49.00 level where a break will expose  the 48.00 level. A cut through here will set  the stage for a run at the 47.50 level. Further down, support resides at the 47.00  level. On the upside, resistance resides at the 50.00 level. Further out, resistance  comes in at the 50.50 level. A break above  here will aim at the 51.00 level and then  the 51.50 level followed by the 52.00 level. All in all, CRUDE OIL remains biased to the downside.

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