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First weekly positive reversal seen in Crude Oil

First weekly positive reversal seen in Crude Oil, Last night NYMEX Crude closed at 47.75$ against 45$ last weeks (Friday) also Brent closed at 52.5$, Thus forming a short term base around 44$ - 45$ levels, Last evening our team hinted that lowering interest rates was discounted despite Russian Rouble spiked up and we had also indicated  premiums in Brent Oil as a sense of positive for Crude Oil. Immediate  term Crude Oil 52$ to 54$ and also 60$ may not be ruled out in next 15 days

{31 January 2015}

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