(02 OCTOBER 2017)CRUDE OIL (in USD):Holding above $50.

(02 OCTOBER 2017)CRUDE OIL (in USD):Holding above $50.

2 October 2017, 13:44
Jiming Huang
0
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oil


Holding above $50.

(By Yann Quelenn)

• Crude oil is consolidating above the $50 level. 

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

Strong resistance found at 52.43 (26/09/2017) has 

been broken. Expected to show another leg 

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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