(28 AUGUST 2017)CRUDE OIL (in USD):Short-term bearish.

Short-term bearish.

(By Yann Quelenn)

• Crude oil is trading lower. Hourly support is 

given at 46.46 (17/08/2017 high). Strong 

resistance can be found at 50.41 (31/07/2017). 

Expected to show continued short-term 

sideways move. 

• 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).