(26 JUNE 2017)CRUDE OIL:Consolidating before another likely  decline.

(26 JUNE 2017)CRUDE OIL:Consolidating before another likely decline.

26 June 2017, 13:50
Jiming Huang
0
25

oil


Consolidating before another likely 

decline.

• Crude oil is now consolidating since the recent 

collapse from $52. Support given at a 42.20 

(14/11/2017 low) has been broken. Expected to 

show further decline. 

• 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).

(By Yann Quelenn)

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