Crude Oil Needs to Break $112.50 bbl
Mr Singh,
Thanks for the Feedback. Crude Oil will Soften Further if it Breaks the Support Zone of $112.50 bbl
Below $112.50 bbl theres a Strong Support at $108.10 bbl.
It would be a better Scenario in the International Market if $112.50 bbl is broken first and then $108.10 bbl is taken care of.
Sharp Bounce back from $108.10 bbl is expected and the range from $118.25 bbl to $127.50 bbl are the Strong Resistances for Crude Oil.
Therefore Crude Oil Should not Go Beyond $118.25 bbl and Further it should not Cross Over $127.50 bbl.
God Forbid, If Ever Crude Oil, Breaks the Resistance of $127.50 it is expected to shoot back to $136 bbl and beyond that $147 bbl is expected and if Crude Oil Breaks the All time High of $147 bbl then this time the Target is $155 bbl.
But, If $108.10 bbl is Broken then Expect Crude to hit $103 bbl and $99 bbl Respectively.
Opec has Predicted that within a Year and Half Crude oil will Come down to $84 bbl
I hope God Grants their Prediction as it would be better for the Welfare of the Global Economy.
Thanking You once again,
Regards,
Shravani