(07 AUGUST 2017)CRUDE OIL (in USD):Riding symmetrical triangle.

(07 AUGUST 2017)CRUDE OIL (in USD):Riding symmetrical triangle.

7 August 2017, 13:52
Jiming Huang
0
23

oil


Riding symmetrical triangle.

(Yann Quelenn)

• 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 

(03/01/2017 high).

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