CRUDE OIL: With Crude Oil vulnerable following its Monday weakness, it may target further downside. However, we think it will be limited to the 99.81 level. On the upside, resistance resides at the 101.61 level where a break will aim at the 102.22 level. Further out, a violation of here will pave the way for a run at the 103.52 levels followed by the 104.50 level and then the 105.21 level, its Feb 2014 high. Conversely, support comes in at the 99.81 level where a break will aim at the 98.86 level and then the 98.00 level. A cut through here will open the door for more decline towards the 97.00 level. Further down, support comes in at the 96.26 level. All in all, Crude Oil remains biased to the upside short term but faces corrective risks
CRUDE OIL: With Crude Oil vulnerable following its Monday weakness, it may target further downside. However, we think it will be limited to the 99.81 level. On the upside, resistance resides at the 101.61 level where a break will aim at the 102.22 level. Further out, a violation of here will pave the way for a run at the 103.52 levels followed by the 104.50 level and then the 105.21 level, its Feb 2014 high. Conversely, support comes in at the 99.81 level where a break will aim at the 98.86 level and then the 98.00 level. A cut through here will open the door for more decline towards the 97.00 level. Further down, support comes in at the 96.26 level. All in all, Crude Oil remains biased to the upside short term but faces corrective risks
GET THE FULL ANALYSIS WITH 4-15 TRADE ALERTS DAILY
UNPARALLELED ANALYSIS covering EURUSD, GBPUSD, USDJPY, AUDUSD, EURJPY, EURGBP, USDCAD, USDCHF, GBPJPY, EURCHF and 5 Commodities Daily.GET YOUR ANALYSIS & TRADE ALERTS
Related Posts: