Crude Oil Weekly Forecast Feb 24-28

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Outlook in Crude Oil remains on the upside as long as support 100.15 holds with risk towards the 102.95 levels ahead of the 105.08 levels, a halt is strongly suggested from 105.08 levels, but sustained trading above the 105.08 will have large bullish implication towards the 110.43 levels.

On the downside, minor support comes at the 100.15 levels, losing this level will turn outlook neutral and bring consolidations, but downside move below 100.15 levels should be contained well by the 99.00/96.25 levels.

In all, as long as support 100.15 holds, the Crude Oil will remain biased to the upside with risk towards the 103.00 /105.00 levels, losing the 100.15 levels will reverse risks towards the 99.08 levels ahead of the 96.25 levels.

 

Crude Oil Weekly Forecast Feb 24-28

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