Crude Oil Weekly Forecast Sept 01 2014

Oil

Outlook in Crude Oil has turned neutral at the moment , resistance comes at the 95.96 levels while support comes at the 91.23 levels. On the upside ; to resume the bullish correction , sustained trading – weekly closing – above the 95.96 levels should be seen , If seen , the pair will recapture the 98.64 levels , a halt could be seen , but a clear break would call for a run towards the 102.06 levels before the next move…..

On the downside , a failure to hold above the 95.96 levels could mean a return to the 91.75/91.23 levels , If this level fails , expect the pair to weaken further towards the 87.67 levels….

In all , the Crude Oil is likely to consolidate within 91.23/95.96 range before the next move……below 91.23 will continue losses towards the 87.67 levels , while above 95.96 will open 98.64 and possible higher towards the 102.06 levels…

 

Crude Oil Weekly Forecast Sept 01 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS