(31 JULY 2017)CRUDE OIL (in USD):Monitoring resistance at 50.28.

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 

(03/01/2017 high).