Crude Oil Daily Forecast May 21 2014


The Crude Oil  maintained a   bullish momentum yesterday  , printed support at the 101.66  levels . This development leaves the pair targeting the 104.00  levels where a breach will turn focus on the 105.50  levels , further upside will aim the 107.15  levels.

On the downside , support comes at the 102.00 levels ahead of 101.66 ( main) , stability above support levels will keep the bullish momentum intact , however ; sustained trading – daily closing – below 101.66  will turn outlook neutral for retesting 100.33  levels before the next possible rise .

In all ,as long as support 101.66   holds on a daily closing basis , outlook in Crude Oil  remains on the upside with risk towards the 104.00  levels ahead of the 105.50   levels , below 101.66   will reverse risks towards the 100.33  levels before the next rise…

Note that break of 102.91 levels on a daily closing basis , will make 102.91 serve as strong support ….

Crude Oil Daily Forecast May 21 2014