Crude Oil Forecast Feb 03-07

Crude-oil-65986565

Recommendations: LONG positions above 95.44  with 97.77 & 98.95 as next targets.

Alternative scenario: The downside breakout of 95.44 will call for a slide to 93.89/92.86.

Description: Outlook in Crude Oil is cautiously on the upside this week with risk towards 97.77 ahead of 98.95 levels as long as support 95.44 holds on a daily closing basis, break of 98.95 will extend gains to the 100.73 levels, further out will aim the 102.43 levels. On the downside, losing the key support 95.44 will signal short term topping and open the 93.89 levels where a breach will turn the focus on the 92.86 levels.

Support & Resistance : 90.00,  91.23 , 92.41,93.89 , 95.44 (Pivot) , 97.77 , 98.95 , 100.73, 102.43

 

Crude Oil Forecast Feb 03-07

MARKET DATA

UPCOMING ECONOMIC EVENTS

1 COMMENT

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