Crude Oil Weekly Forecast Sept 22 2014

Oil

Outlook in Crude Oil remains on the downside as long as resistance 93.00/95.96   holds on a weekly closing basis  , support comes at the 90.10 levels , a halt is likely , but a cut will open 88.16 levels , further downside will aim the 85.60  levels…

On the upside , resistance comes at the 93.00  levels  ahead of the 95.96 levels , sustained trading above the 95.96  levels will  put the pair in recovery mode , but upside move above the 95.96 levels should be limited strongly by the 102.00/105.71 levels..

In all , as long as resistance 93.00/95.96  holds on a weekly closing basis , outlook in Crude Oil remains on the downside towards the  90.10 levels , and possible lower towards the 88.15  levels , a clear break above the 95.96  levels will bring recovery towards the 102.00/105.70 levels before the next fall..

Conclusion :

Time Frame : Weekly

Bearish Mode : Below 95.96

Recovery Mode: Above 95.96

Bullish Mode : Above 105.70

 

Crude Oil Weekly Forecast Sept 22 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS