(04 DECEMBER 2017)CRUDE OIL (in USD):Ready for another leg higher.

(04 DECEMBER 2017)CRUDE OIL (in USD):Ready for another leg higher.

4 December 2017, 13:00
Jiming Huang
0
11
oil

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

(03/01/2017 high).

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