Crude Oil Weekly Forecast Jul 14 2014

Oil

Despite the sharp fall last week , outlook in Crude Oil remains neutral this week , at the moment , the pair is approaching from critical support at the 100.15 levels . At this point I’d expect strong support from the 100.15 level to contain fall from 107.64 levels and bring reversal, resistance comes at the 104.15 levels ahead of 106.04/107.64 levels……

On the downside , sustained trading – weekly closing – below the 100.15 levels will open 96.25 levels , losing this level will turn focus on the 91.40 levels….

In all , the crude oil is likely to consolidate within 100.15 / 107.64 range¬†¬†before the next move…..

 

Crude Oil Weekly Forecast Jul 14 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS