Crude Oil – Intraday Forecast 21 Jan 2014 (Further Upside)
Recommendations: LONG positions above 94.35 with 95.33 & 95.58 as next targets.
Alternative scenario: The downside breakout of 94.35 will open 93.92/93.62 levels.
Description: Intraday bias in Crude Oil is on the upside with risk towards 95.33 ahead of 95.58 levels as long as support 94.35 holds on hourly basis, break of 95.58 will open 96.20 next. On the downside, losing 94.35 on an hourly basis would reverse risks to the downside towards 93.92 ahead of 93.62 levels before the next possible rise.