Crude Oil Daily Forecast Jul 31 2014

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Oil

Outlook in Crude Oil remains on the downside as long as resistance 99.40 holds on a daily closing basis , support comes at the 98.00 levels , sustained trading – daily closing – below the 98.00 levels will open 96.15 next , further losses will aim the 94.15 levels….

On the upside , resistance comes at the 99.00 levels ahead of the 99.40 levels (main) , break of the 99.40 levels on a daily basis will turn outlook neutral towards the 100.34/101.61 levels before the next fall……

In all , as long as resistance 99.40 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 98.00/96.15 levels , above 99.40 will delay the bearish move for retesting the 100.34/101.61 levels before the next fall…

 

Crude Oil Daily Forecast Jul 31 2014

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