Crude Oil Daily Forecast Apr 09 2014


The Crude Oil  continued its bullish momentum yesterday , printed support at the 100.65  levels , and topped at the 102.67 levels . This development leaves the pair targeting the 103.70  levels , a halt is likely , but a break would open 105.06 next, further upside will aim the 106.50 levels.

On the downside , support comes at the 101.58 levels ahead of 100.65 (main) , stability above this level will keep pushing to the upside , but losing the  100.65  levels on a daily closing basis will open  99.90 levels ahead of the 99.04  levels , further downside will aim the 98.05  levels.

In all , as long as support 100.65  holds on a daily closing basis , the Crude Oil  will remain based to the upside towards the 103.70 levels ahead of the 105.06 levels , losing  100.65  levels will reverse risks towards the 99.90/98.05  levels….

Crude Oil Daily Forecast Apr 09 2014