Crude Oil Weekly Forecast Jun 16 2014


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