CRUDE OIL: Our outlook on Crude Oil remains to the upside in the medium term. With the commodity resuming that trend today, further bullish offensive is likely towards the 96.15 level with a violation of here turning attention to the 97.00 level. Further out, resistance resides at the 98.00 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 94.67 level where a violation will call for a run at the 93.63 level. Further down, support comes in at the 91.50 level and then the 90.30 level. All in all, Crude Oil remains biased to the upside in the medium term.
