Crude Oil Weekly Forecast Jul 21 2014

Oil

Outlook in Crude Oil remains neutral with possible risk to the downside , note that the pair was rejected from the key support 100.15 as expected last week , to resume the upside offensive , sustained trading – weekly closing – above the key resistance 104.15 is needed , If seen , the pair will recapture the 107.64 levels , further upside will aim the 110.00 levels……..

On the downside , a failure to hold above the 104.15 levels on a weekly closing basis , could mean a return to the  101.57 levels , losing this level would open 100.15 levels , sustained trading or weekly closing below this level will open 96.25 levels…….

In all , the Crude Oil is likely to consolidate within 100.00 /104.15 range before the next move…..

 

Crude Oil Weekly Forecast Jul 21 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS