![(07 AUGUST 2017)CRUDE OIL (in USD):Riding symmetrical triangle. (07 AUGUST 2017)CRUDE OIL (in USD):Riding symmetrical triangle.](https://c.mql5.com/6/783/splash-704421.jpg)
(07 AUGUST 2017)CRUDE OIL (in USD):Riding symmetrical triangle.
7 August 2017, 13:52
![Jiming Huang Jiming Huang](https://c.mql5.com/avatar/2015/11/563C54E3-36DF.jpg)
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Riding symmetrical triangle.
(Yann Quelenn)
• Crude oil is trading mixed. Hourly support is
given at 47.86 (26/07/2017 low). Strong
resistance can be found at 50.41 (31/07/2017).
Expected to break 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 found at 55.24
(03/01/2017 high).