Ready for another leg higher.
(By Yann Quelenn)
• Crude oil has finished its consolidation and is
now ready to challenge the 60-dollar level.
Expected to show continued increase. Support is
given at a distance at 54.81 (14/11/2017 low)
• 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