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Crude Oil - Surging

Crude has broken resistance at 43.46 (24/11/2015 high) which confirms strong medium-term bullish momentum. Hourly support can be found at 37.61 (18/04/2016 low). Expected to show continued increase towards 48.36 (03/11/2015 high).

In the long-term, crude oil is on a sharp decline but is now showing some signs of recovery. Strong support lies at 24.82 (13/11/2002). Crude oil is holding above its 200-Day Moving Average. Crude oil should recover during this year.

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