CRUDE OIL: With the commodity holding on to its upside offensive, more strength is envisaged. On the downside, support resides at the 39.00 level where a break will expose the 38.00 level. A cut through here will set the stage for a run at the 37.00 level. Further down, support resides at the 36.00 level. On the upside, resistance resides at the 41.00 level. Further out, resistance comes in at the 42.00 level. A break above here will aim at the 43.00 level and then the 44.00 level followed by the 45.00 level. Its daily RSI is bullish and pointing higher supporting this view. All in all, CRUDE OIL’s medium term bias remains higher.
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