(03 JULY 2017)CRUDE OIL:Pushing lower.

(03 JULY 2017)CRUDE OIL:Pushing lower.

3 July 2017, 13:50
Jiming Huang
0
20

oil


Pushing lower.

(By Yann Quelenn )

• Crude oil is now consolidating higher since the 

commodity hit 11-month low towards resistance 

at 46.71 (12/06/2017 high). Support is given at 

42.05 (21/06/2017 low). Expected to show 

renewed weakness. 

• 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).

Share it with friends: