Riding symmetrical triangle.
• Crude oil is trading mixed. Hourly support is
given at 47.86 (26/07/2017 low). Strong
resistance can be found at 50.41 (31/07/2017).
Expected to break 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