Crude Oil Weekly Forecast Jun 23 2014


Despite hesitation, outlook in Crude Oil remains on the upside this week , to resume the upside offensive ; 107.64 should be taken out , If seen,, the pair will target the 110.45 levels  , a halt is likely , but a break would open 114.00  next , further upside will aim the 118.00 levels.

On the downside , support comes at the 105.20/103.63 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 105.20 holds on a weekly basis , outlook in Crude Oil remain on the upside towards the 110.45 levels ahead of the 114.00 levels , below 105.20 will turn outlook neutral for retesting the 103.63/102.59 levels before the next rise………..

Crude Oil Weekly Forecast Jun 23 2014