Crude Oil Daily Forecast Dec 19 2014

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Outlook in Crude Oil remains on the downside as long as 56.52/58.68 resistance holds on a 4 hour closing basis , support comes at the 53.59 levels , a cut will bring free fall towards the 52.00 levels ahead of the 50.00 levels , a halt is likely , but further down will pave the way towards the 48.00 levels…

On the upside , resistance comes at the 56.52 levels , break of the 56.52 levels will open main resistance at the 58.68 levels , a halt is strongly suggested , but If this important resistance is taken out , expect the pair to extend recovery towards the 60.00 levels and possible higher towards the 61.85 levels.

In all , as long as 56.52 resistance holds on a 4 hour closing basis , outlook in Crude Oil remain on the downside towards the 53.59 levels ahead of the 50.00 levels , above the 56.52 levels will bring rebound towards the 58.68 levels before the next fall…

 

Crude Oil Daily Forecast Dec 19 2014

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