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..
Time Frame : Weekly
Bearish Mode : Below 95.96
Recovery Mode: Above 95.96
Bullish Mode : Above 105.70