Crude Oil Weekly Forecast Mar 03 2014

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Outlook in Crude Oil is cautiously on the upside as long as support 100.15 holds, resistance is 103.43 ahead of 104.06 (main), break of 104.06 levels will open 105.08 next, a halt is likely, but sustained trading above the 105.08 levels will have large bullish implication towards the 110.45 levels.

On the downside, stability below the 104.06 levels could mean a return to the 100.15 levels, losing this level will signal short term topping and reverse risks towards the 98.57 levels, further losses will aim the 96.25 levels before the next possible rise.

In all, as long as support 100.15 holds, the Crude Oil will remain biased to the upside with risk towards the 104.00 /105.00 levels, losing the 100.15 levels will reverse risks towards the 98.57 levels ahead of the 96.25 levels.

 

Crude Oil Weekly Forecast Mar 03 2014

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