Crude Oil Weekly Forecast 20 – 24 Jan

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Crude Oil Weekly Forecast 20 – 24 Jan  (Under Pressure )

Recommendations: SHORT positions below 95.33  with 92.41 & 91.23 as next targets.

Alternative scenario: The upside breakout of 95.33 will open 97.45/98.94.

Description: Outlook in Crude Oil is cautiously on the downside this week with risk towards 92.41 ahead of 91.23 levels as long as resistance 95.33 holds on a daily closing basis, below 91.23 would open 90.00 levels.On the upside break of  95.33 would turn outlook neutral and bring rebound towards 97.45/98.94 levels before the next possible fall, break of 98.94 would turn outlook bullish and open 100.73 levels and possibly higher.

Support & Resistance : 90.00 , 91.23 , 92.41 , 95.33 (Pivot) , 97.45 , 98.94 , 100.73

 

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