Crude Oil Daily Forecast Jul 18 2014


The Crude Oil  maintained a bullish momentum yesterday ,topped at the 103.86  levels &  printed support at the 101.24 levels . This development leaves the pair targeting the 105.48 levels , a halt could be seen , but a breach will turn focus on the 106.90 levels , further upside will aim the 108.75  levels.

On the downside , support comes at the 102.88/101.90  levels ahead of 101.24 ( main) , stability above support levels will keep the bullish momentum intact , however ; sustained trading – daily closing – below 101.24 will turn outlook neutral for retesting the 100.03/98.98  levels before the next possible rise .

In all ,as long as support 101.24 holds on a daily closing basis , outlook in Crude Oil  remains on the upside with risk towards the 105.48  levels ahead of the 106.90  levels , below 101.24  will reverse risks towards the 100.03/98.98  levels before the next rise…


Crude Oil Daily Forecast Jul 18 2014