Crude Oil Daily Forecast Dec 30 2014

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Outlook in Crude Oil remains on the downside as long as  54.50 resistance holds on a daily closing basis, support comes at the 53.59 levels, a cut would open 52.00 levels, further down will pave the way towards the 50.00 levels.

On the upside, resistance comes at the 54.50 levels, break of the 54.50 levels on a daily closing basis will put the pair in recovery mode, but recovery above the 54.50 levels should limit by the 58.37 levels where fall resumption is likely !!!

In all, as long as 54.50 resistance holds on a daily closing basis, outlook in Crude Oil remains on the downside towards the 53.59 levels ahead of the 50.00 levels, above the 54.50 levels will turn outlook neutral and bring limited gains below the 58.37  levels before the next fall…

Crude Oil Daily Forecast Dec 30 2014

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