Crude Oil Weekly Forecast Feb 17-21

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Outlook in Crude Oil on the upside with risk towards the 102.95 levels, a halt is suggested, but a breach will turn the focus on the main resistance at the 105.08 levels, break of 105.08 on a weekly basis will have large bullish implication towards the 110.43 levels.

On the downside, minor support comes at the 99.08 levels, a bearish correction towards the 99.08 levels is suggested before flying towards the 102.95 levels. but, losing the 99.08 levels will open main support at the 96.25 levels. below this level will signal short term topping and open the 91.40 levels.

In all, as long as 96.25/99.08  levels hold on a weekly basis, the Crude Oil will remain biased to the upside with risk towards the 102.95 levels, losing the 96.25 levels will reverse risks to the downside towards the 91.40 levels.

 

Crude Oil Weekly Forecast Feb 17-21

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