Crude Oil Daily Forecast Feb 12 2015

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Outlook in Crude Oil has turned neutral at the moment , the pair remains in a pullback mode above the 47.35 levels , note that stability below the key resistance 52.56 will keep the pair under pressure for retesting the 47.35 levels , losing the 47.35 levels 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.

On the upside , a failure to hold below the 47.35 levels could mean a return to the 52.56 levels , break of the 52.56 levels on a daily closing basis will restore the upside momentum and open the 54.20 levels , further upside will target the 55.70 levels.

In all , the Crude Oil is likely to consolidate within 47.35/52.56 range , break of the 52.56 levels will open the 54.20/55.70 levels , while below the 47.35 levels will open the 43.57/40.00 levels..

Note : Intraday resistance comes at the 51.29 levels , sustained breakout on 4 hour closing basis could expose the 52.56 levels and open the 54.20 levels , while stability below the 51.29 levels on a 4 hour closing basis will keep the pair under pressure with risk towards the the 47.35 levels..

 

Crude Oil Daily Forecast Feb 12 2015

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