Crude Oil Daily Forecast Dec 22 2014

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Outlook in Crude Oil has turned neutral with risk to the downside , resistance comes at the 58.37 levels , a failure to hold above the 58.37 levels on a daily closing basis could mean a return to the 53.59 levels , a cut would open 52.00 levels , further down will aim the 50.00 levels.

On the upside , break of the 58.37 levels on a daily closing basis will put the pair in recovery mode , but recovery above the 58.37 levels should limited by the 65.15 levels where fall resumption is likely !!!

In all ,as long as 58.37 resistance holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 53.59 levels ahead of the 52.00 levels , above the 58.37 levels will turn outlook neutral and bring limited gains below the 65.15 levels before the next fall…

Intraday :  as long as 58.68 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 58.68 levels will bring rebound towards the 60.05/61.85 levels before the next fall…

Note that losing the key support 56.60 on a 4 hour closing basis is needed to accelerate the expected bearish move , a failure to hold below the 56.60 levels could mean a retest to the 58.68 levels before the next fall …….

Crude Oil Daily Forecast Dec 22 _2014_H4

 

Crude Oil Daily Forecast Dec 22 2014

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