Crude Oil Daily Forecast Aug 22 2014

Oil

Outlook in Crude Oil remains on the downside as long as resistance 94.30 holds on a daily closing basis , support comes at the 92.50 levels , losing this levels will aim the 91.50 levels (main) , a halt is likely(strong rebound could be seen )  , but sustained trading below this level will target the 87.90 levels..

On the upside , resistance comes at the 94.30 levels , sustained trading – daily closing – above the 94.30 levels will turn outlook neutral towards the 97.00/98.63 levels before the next possible fall ..

In all , as long as resistance 94.30 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 92.50/91.50 levels , above 94.30 will turn outlook neutral , but upside move above 94.30 should be limited by the 97.00/98.63 levels….

 

Crude Oil Daily Forecast Aug 22 2014

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