(11 SEPTEMBER 2017)CRUDE OIL (in USD):Sharp decline.

(11 SEPTEMBER 2017)CRUDE OIL (in USD):Sharp decline.

11 September 2017, 13:44
Jiming Huang
0
19

oil

Sharp decline.

(By Yann Quelenn )

• Crude oil has strongly declined after the 

commodity monitored the $50 level. Key support 

is given at 45.40 (17/08/2017 high). Strong 

resistance can be found at 50.43 (31/07/2017). 

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).


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