Crude Oil Daily Forecast Feb 09 2015


The Crude Oil continued its bullish momentum last Friday , printed support at the 47.35 levels . This development leaves the pair targeting the 55.75 levels , a halt is likely but a break would open 59.00 next , further upside will target the  62.70 levels.

On the downside , support comes at the 50.61 levels ahead of the 47.35 levels (main) , losing the last one on a daily closing basis will terminate the current bullish run and open the 43.57 levels where a cut will open the 40.00 levels.

In all , as long as support 50.61 holds on a daily closing basis , outlook in Crude Oil remains on the upside towards the 55.75 levels ahead of the 59.00 levels , below the 50.61 levels will turn outlook neutral towards the 47.35 levels before the next rise..


Crude Oil Daily Forecast Feb 09 2015




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