Crude Oil Daily Forecast Feb 03 2015

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Short term outlook in Crude Oil remains on the upside as long as 48.80/49.75 support holds on a 4 hour closing basis , resistance comes at the 51.40 levels , , a halt is likely but a clear break will pave the way towards the 53.50 levels ahead of the 55.90 levels..

On the downside , losing the 48.80 levels will bring a corrective pullback and open main support at the 45.51 levels , a halt is likely  , but sustained breakout blow the 45.51 levels will terminate the current bullish run and open 43.59 levels …

In all , as long as 48.80/49.75 support holds on a 4 hour closing basis , outlook in Crude Oil remains on the upside towards the 51.40 levels ahead of the 53.50 levels , below 48.80 bring a corrective pullback and open main support at the 45.51 levels before the next rise..

 

Crude Oil Daily Forecast Feb 03 2015

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