Crude Oil – Intraday Forecast 24 Jan 2014 (Further Upside)
Recommendations: LONG positions above 96.39 with 97.30 & 97.80 as next targets.
Alternative scenario: The downside breakout of 96.39 will bring a slide 95.70/95.20.
Description: Intraday bias in Crude Oil is on the upside with risk towards 97.30 ahead of 97.80 levels as long as support 96.39 holds on hourly basis, break of 97.80 will open 98.30/98.95 next. On the downside, losing 96.39 on an hourly basis would reverse risks to the downside towards 95.70 ahead of 95.20 levels before the next possible rise.