Outlook in Crude oil has turned neutral this week , support comes at the 105.00 levels , sustained trading – weekly closing – below this level will reverse risks towards the 102.59 levels before the next possible rise , If this level fails , expect to see the pair around the 101.66 levels…
On the upside , resistance comes at the 107.43 levels , sustained trading – weekly closing – above this level should resume the upside offensive , If seen , the pair will target the 110.44 levels , further upside will aim the 114.00 levels…
In all , the Crude Oil is likely to consolidate within 105.00/107.43 range before the next move , below 105.00 will open 102.59/101.66 levels , above 107.43 will pave the way towards the 110.44 levels ahead of the 114.00 levels……
