HomeContributorsTechnical AnalysisCRUDE OIL Monitoring Resistance At 50.28

CRUDE OIL Monitoring Resistance At 50.28

Crude oil is trading higher Hourly support is given at 45.40 (24/07/2017 low). Strong resistance can be fouind at 50.28 (29/05/2017). Expected to show further consolidation before 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 ound at 55.24 (03/01/2017 high).

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