Crude Oil Weekly Forecast Mar 30 2015

oil22 min
oil22 min

Outlook in Crude Oil has turned neutral with risk to the downside , a short term support has been printed at the 44.02 levels , and further upside couldn’t be ruled out towards the 52.50 levels . Note that any upside move above the 44.02 levels should be limited by the 56.05 levels where fall resumption is likely ..however ; a clear break above the 56.05 levels will pave the way towards the 64.48 levels.

On the downside , support comes at the 47.47 levels , sustained breakout – weekly closing – below this level will restore the downside momentum and open the 44.02 levels , further down will target the 40.00 levels..

In all , as long as 56.05 resistance holds on a weekly closing basis , outlook in Crude Oil remains on the downside towards the 47.47/44.02 levels ahead of the 40.00 levels , a clear break above the 56.05 levels will pave the way towards the 64.48 levels.

 

Crude Oil Weekly Forecast Mar 30 2015

 

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