Outlook in Crude Oil has turned neutral as long as 56.15 support holds on a 4 hour closing basis , resistance comes at the 58.68 levels , a halt is strongly suggested but a break would open 60.00 next before the next fall .
On the downside , a failure to hold above the 58.68 levels on a 4 hour closing basis could mean a return to the 56.15 levels , a cut will restore the downside momentum and open 53.59 levels , further losses will pave the way towards the 52.00 levels ahead of the 51.00 levels.
In all ,as long as 58.68/60.00 resistance holds on a 4 hour closing basis , outlook in Crude Oil remains on the downside towards the 56.15/53.59 levels ahead of the 52.50/51.00 levels , above the 60.00 levels will extend recovery towards the 61.85/64.00 levels before the next possible fall..
On the daily time frame , stability below the 57.35 levels on a daily closing basis will keep the pair under heavy pressure !!!!!!!!!