Crude Oil – Daily Forecast 01 Aug 2013

oil-65945

The Crude Oil maintained a bullish momentum yesterday after the false break below 103.71, topped at 105.41 levels. Now the pressure will be on the key resistance 105.41. The crude oil will have to hold above the 105.41 levels on a daily closing basis to push the market for further upside gains If seen. It will target the 108.92 levels. A breach will turn the focus on the  110.54 levels.

Alternatively. A failure to hold above the 105.41 levels could mean a return to the 102.67 levels. A daily closing below 102.67 will pave the way towards the 99.25 ahead of the 95.43 levels.

MARKET DATA

UPCOMING ECONOMIC EVENTS