Crude Oil Daily Forecast Dec 09 2014

oil-65984-min-compressor

Outlook in Crude Oil remains on the downside as long as resistance 65.15 holds on a daily closing basis , support comes at the 61.70 levels , a halt is likely , but a cut would open 57.40 next , further down will pave the way towards the 52.50/50.00 levels.

On the upside , resistance comes at the 65.15 levels , break of the 65.15 levels on a daily closing basis should weaken the current bearish run and turn outlook towards the 69.50 levels before the next fall.

In all , as long as resistance 65.15 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 61.70 levels ahead of the 57.40 levels , above 65.15 will bring rebound towards the 69.50 levels before the next fall.

In the medium term forecast , the pair is under heavy pressure as long as resistance 77.00 holds on a weekly closing basis , support comes at the 63.50  levels where a cut will open 57.00 levels , further losses will aim the 50.00 levels.

 

Crude Oil Daily Forecast Dec 09 2014

MARKET DATA

UPCOMING ECONOMIC EVENTS