Heading to support at 43.76
• Crude oil is finally continuing its decline since
the recent collapse from $52. Support is given at
a distance 43.76 (05/05/2017 low). Expected to
show further decline.
• 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 24.82 (13/11/2002) while
resistance can now be found at 55.24
(03/01/2017 high).
(By Yann Quelenn)
