Crude Oil Weekly Forecast Mar 16 2015

oil22 min
oil22 min

Outlook in Crude Oil remains on the downside as long as 50.35  resistance holds on a a weekly closing basis , support comes at the 42.00 levels , a halt is likely but a cut would open 38.38 next , further down will target the 34.50 levels.

On the upside , resistance comes at the 50.35 levels , sustained breakout above the 50.35 levels will turn outlook neutral and bring rebound towards the 55.00 levels before the next fall..

In all , as long as 50.35 resistance holds on a weekly closing basis , outlook in Crude Oil remains on the downside towards the 42.00 levels ahead of the 38.38, a clear break above the 50.35 levels will turn outlook neutral and bring consolidation below the 55.00 levels before the next fall.

Note that sustained breakout below the 44.73 levels will accelerate the expected bearish move ..

 

Crude Oil Weekly Forecast Mar 16 2015

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