(29 MAY 2017)CRUDE OIL:Strong volatility

Strong volatility.

• Crude oil has collapsed after the bounce on 

short-squeeze move. Support is given at a 

distance 43.76 (05/05/2017 low). Demand was 

very strong and the road is wide-open for further 

increase. 

• 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 )