weekly crude oil forecast
US Crude oil prices tested 51$ last week and then it retraced back to 46$ range , final close came at 47.10$ level . This week crude oil prices has a good weekly resistance at 51.20$ once nymex crude oil price break this and close above this resistance then expect market to fire upto 54$ – 57$ and even more firepower in oil not ruled out
If crude oil price click our weekly support at 44.80$ and close below this oil support then expect market to correct upto 42.50$ – 40$ and even more .
weekly crude oil forecast conclusion : US oil trend is weak for now till its not breaking our weekly oil resistance
More will update during live market hours