CRUDE OIL – The pair continues to hold on to its downside pressure following a lower close the past week. On the downside, support resides at the 43.00 level where a break will expose the 42.00 level. A cut through here will set the stage for a run at the 41.00 level. Further down, support resides at the 40.00 level. On the upside, resistance resides at the 44.00 level. Further out, resistance comes in at the 45.00 level. A break above here will aim at the 51.00 level and then the 46.00 level followed by the 47.00 level. All in all, CRUDE OIL remains biased to the downside medium term.

Mohammed Isah

Market Analyst

This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are the author’s own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which the author incur any responsibility. The does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report