Crude Oil Weekly Forecast Apr 28 2014


Despite the sharp fall last week, Outlook in Crude Oil remains on the upside as long as support 99.90  holds on a weekly basis, resistance comes at the 102.92 ahead of 103.80 levels, break of 103.80 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 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, the 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 28 2014