Ready for another leg higher.
(By Yann Quelenn )
• Crude oil is has failed to break resistance given
at 59.05 (24/12/2017 high). Support is given at
55.82 (07/12/2017 low). Expected to bounce back
• 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