(15 MAY 2017)CRUDE OIL:Strong upside pressures.

(15 MAY 2017)CRUDE OIL:Strong upside pressures.

15 May 2017, 14:06
Jiming Huang
0
30

oil

Strong upside pressures.

• Crude oil continues to bounce on shortsqueeze move. Support is given at a distance 

43.76 (05/05/2017 low). Demand is very strong 

and crude oil is set to be monitor again the $50 

mark. 

• 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 Yann Quelenn)

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