Crude Oil Weekly Forecast Sept 29 2014

Oil

Outlook in Crude Oil  has turned neutral with risk to the downside , resistance comes at the 93.82  levels , a failure to hold above the 93.82  levels on a weekly  closing basis could mean a return to the 90.39  levels , a cut will resume the whole fall towards the 89.27 levels , a halt is likely , but losing the 89.27 levels will continue losses towards the 87.67  levels ahead of the 85.61 levels..

On the upside , resistance comes at the 93.82  levels , sustained trading – weekly closing  – above the 93.82  levels will put the pair in recovery mode , but upside move  above the 93.82 levels should be limited strongly by the 95.96 levels. Break of the 95.96 will have large bullish implication towards the 98.98/102.06 levels…

In all , as long as resistance 93.82  holds on a weekly closing basis , outlook in Crude Oil remains on the downside towards the 90.39/89.27 levels , a clear break above the 93.82 levels will bring recovery towards  the 95.96  levels before the next fall..

Note : we have high probability setup for Crude Oil this week ….selling the pair after rejection from / above the 93.82 levels is highly recommended…A consolidation around 93.82 is an early sign for a sudden collapse …

 

Crude Oil Weekly Forecast Sept 29 2014

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