August 6, 2015
CRUDE OIL: Though maintaining its broader weakness, Crude Oil may see a recovery higher on correction in the days ahead. Resistance is located at the 46.00 level where a break will expose the 47.00 level. A break below here will aim at the 48.00 level and then the 49.00 level. Above here will open the door for a run at the 50.00 level. Conversely, on the downside, support resides at the 44.00 level where a break will expose the 43.00 level followed by the 42.00 level. A cut through here will aim at the 41.00 level. All in all, Crude Oil remains biased to the downside medium term.
