(04 SEPTEMBER 2017)CRUDE OIL (in USD):Challenging the key resistance at 47.15.

Challenging the key resistance at 47.15.

(By Peter Rosenstreich)

• Crude oil is showing some buying interest near 

key support at 45.46. Strong resistance can be 

found at 50.41 (31/07/2017). Hourly support is 

given at 45.40 (17/08/2017 high). Expected to 

show continued short-term bearish 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).