CRUDE OIL: Having Crude Oil triggered a corrective recovery the past week, it faces further recovery risk sin the new week. Support lies at the 44.00 level where a break will expose the 43.00 level. A break will aim at the 42.00 level and then the 41.00 level. A turn below here will open the door for a run at the 40.00 level. On the upside, resistance resides at the 47.55 level where a break will expose the 48.00 level followed by the 49.00 level where a break will aim at the 50.00 level and then the 51.00 level. All in all, Crude Oil remains broadly biased to the downside medium term.
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