(24 JULY 2017)CRUDE OIL (in USD):Renewed bearish pressures.

Renewed bearish pressures.

(By Yann Quelenn )

• Crude oil is trading lower. Hourly support is 

given at 43.65 (10/07/2017 low). Strong 

resistance given at 48.42 (05/06/2017). 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 

(03/01/2017 high).