Pushing towards key resistance.
(By Yann Quelenn )
• Crude oil is consolidating within range defined
by support at 50.43 and the strong resistance lies
at 52.86 (28/09/2017). Expected to show
continued increase within this range.
• In the long-term, crude oil has recovered after
its sharp decline last year. However, we consider
that further weakness are very likely. For the time
being the pair lies in an upside momentum.
Strong support lies at 35.24 (05/04/2016) while
resistance can now be found at 55.24