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

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

higher.

• 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).