Wide-open for further weakness.
(By Yann Quelenn )
• Crude oil is trading lower. Hourly support is
given at a distance at 45.40 (24/07/2017 low).
Strong resistance can be found at 50.41
(31/07/2017). Expected to show short-term
• 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