Profit-taking after the strong increase.
(Yann Quelenn )
• Crude oil is back to bearish again. Support is
given at 42.05 (21/06/2017 low). Expected to
show continued 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