Brent Oil Daily Forecast Nov 18 2014

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Brent
Brent

Outlook in Brent Oil has turned neutral with risk to the downside , resistance comes at the 79.71 levels , a failure to hold above the 79.71 levels on a daily closing basis could mean a return to the 76.74 levels , a cut would open 73.70 next , a halt is likely , but further losses will pave the way towards the 69.85 levels ahead of the 65.60 levels.

On the upside , resistance comes at the 79.71 levels , break of  79.71 levels on a daily closing basis will put the pair in recovery mode , but recovery above the 79.71 levels should be limited by the 81.59/84.00  levels where fall resumption is likely .

In all , as long as resistance 79.71  holds on a daily closing basis , outlook in Brent Oil remains on the downside towards the 76.74 levels ahead of the 73.70 levels , above 79.71 faces a  recovery risk towards the 81.59/84.00 levels before the next fall.

Brent Oil Daily Forecast Nov 18 2014

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