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NYMEX Crude & Brent Oil to Retest Previous Lows


After sharp fall from the level of 105 to downside 45 in Brent Oil we saw short term bounce back rally from recent low of 45 to upside 59 levels.

As per the weekly charts prices has retraced 23.6% at current level of 66, we see at this level prices have strong multiple resistances for any further upside momentum. In coming period we are expecting 80% correction in NYMEX Crude& Brent Oil prices from current level to the downside targets level 50/45.



BRENT OIL (WEEKLY CHART)



CRUDE OIL(WEEKLY CHART)


{April 30,2015}

























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