Crude Oil Daily Forecast Apr 23 2014


The Crude Oil  maintained a bearish momentum  yesterday , printed resistance at the 103.62  levels  .This development leaves the pair targeting the 100.50  levels where a breach will turn focus on the 99.30  levels , further downside will aim the 98.00 levels.

On the upside , resistance comes at the 102.90 levels ahead of 103.62 (main) , break of 103.62 levels on a daily basis would recapture the 104.95 levels , If this resistance is taken out , expect the pair to strengthen further towards the 106.00 levels , further upside will aim the 106.90  levels..

In all , as long as resistance 103.62  holds on a daily closing basis  , outlook in Crude Oil  remains on the downside towards the 100.50/99.30  levels, break of 103.62  will reverse risks towards the 104.95  levels….

 Crude Oil Daily Forecast Apr 23 2014