Crude Oil – Intraday Forecast 31 Jan 2014 (Neutral)
Recommendations: LONG positions above above 97.60 to 98.05 & 98.57 as next targets.
Alternative scenario: The downside breakout of 97.60 will call for a slide to 97.15/96.80.
Description: Intraday bias in Crude Oil is neutral with upside risk towards 98.05 ahead of 98.57 levels as long as support 97.60 holds on hourly basis, break of 98.57 will extend gains to 98.95/99.30 levels. On the downside, losing the key support 97.60 will signal short term topping and bring consolidations for resetting 97.15/96.80 levels before the next possible rise…