Crude Oil Weekly Forecast Apr 21 2014


Outlook in Crude Oil remains on the upside as long as support 99.90/102.00  holds on a weekly basis , resistance comes at the 104.40 levels , stability above this level will recapture the 105.20 levels , where a breach will turn focus on the 106.35 levels , further upside will aim the 108.80 levels….

On the downside , support comes at the 102.00 levels ahead of 99.90 ( main) , stability above support levels will keep the bullish momentum intact , however ; sustained trading – weekly closing – below the 99.90 levels will signal short term topping and reverse risks to the downside towards the 97.36/96.25 levels before the next rise.

In all , as long as support 99.90 holds on a weekly basis , outlook in Crude Oil remains  to the upside towards the 105.20/106.30 levels , losing the 99.90 levels will reverse risks towards the 97.36/96.25 levels.

Crude Oil Weekly Forecast Apr 21 2014