Crude Oil Weekly Forecast Jun 16 2014

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The Crude Oil  continued it bullish momentum last week ,topped at the 107.64  levels and printed support at the 102.59 levels .This development leaves the pair targeting the 110.00  levels , a halt is likely , but a break would open 113.15  next , further upside will aim the 116.57  levels.

On the downside , support comes at the 103.63  levels ahead of 102.59 ( main) , stability above support levels will keep the bullish momentum intact , however ; losing the 102.59  levels on a weekly closing basis will reverse risks towards the 98.71/96.25  levels , before the next possible rise.

In all , as long as support  102.59  holds on a weekly closing basis , outlook in Crude Oil remains on the upside towards the 110.00  levels ahead of the 113.15  levels .Below 102.59   will reverse risks towards the 98.71/96.25  levels……

 

Crude Oil Weekly Forecast Jun 16 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS