Monitoring resistance at 50.28.
(Yann Quelenn )
• Crude oil is trading higher Hourly support is
given at 45.40 (24/07/2017 low). Strong
resistance can be fouind at 50.28 (29/05/2017).
Expected to show further consolidation before
another leg higher.
• 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