Crude Oil Weekly Forecast Apr 07 2014

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No change , Outlook in Crude Oil remains neutral with risk to the upside , To resume the upside offensive , 102.20 should be taken out , If seen , the pair will target the 102.76 levels ,a clear break will recapture the 103.45/ 105.20 levels.

On the downside , a failure to take out the 120.20 levels could push the pair back towards the 100.15  levels , a halt is likely , but losing the 100.15 levels will open main support at the 98.77 levels , If this level fails , expect the pair to weaken further towards the 97.36 levels, further downside will aim the 95.20 levels…

In all , as long as support 100.15 holds on a weekly closing basis , the Crude Oil will remain based tot he upside towards the 102.76/105.20 levels , losing the 100.15 levels will reverse risks towards the 98.77/97.36 levels.

 

Crude Oil Weekly Forecast Apr 07 2014

 

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UPCOMING ECONOMIC EVENTS