Crude Oil – Intraday Forecast 16 Jan 2014

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Crude Oil – Intraday Forecast 16 Jan 2014

Recommendations: LONG positions above 93.15 with 94.00 & 94.50 as next targets.
Alternative scenario:
The downside breakout of 93.15 will open 92.50/92.00 levels.
Description: 
Intraday bias in Crude Oil is neutral with risk to the upside towards 94.00 ahead of 94.500 levels as long as support 93.15 holds on hourly basis, On the downside, break of 93.15 on an hourly basis would reverse risks to the downside towards 92.50 ahead of 92.00 levels.

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