Crude Oil Daily Forecast Dec 02 2014

Oil
Oil

Outlook in Crude Oil has turned neutral with risk to the downside , resistance comes at the 69.50  , a failure to hold above the 69.50 levels on a daily closing basis , could mean a return to the 65.80 /63.70 levels , a cut would open 60.00 next , a halt is likely , but further down will aim the 55.00 levels.

On the upside , break of 69.50 on a daily closing basis will turn outlook neutral for retesting 73.68 levels before the next possible fall , however , break of the 73.68 levels will extend recovery towards the 77.70 levels.

In all , as long as resistance 69.50 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 65.80 /63.70 levels ahead of the 60.00 levels , above 69.50 faces a recovery risk towards the 73.70 levels..

 

Crude Oil Daily Forecast Dec 02 2014

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