Crude Oil Daily Forecast Feb 27 2015

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Outlook in Crude Oil has turned neutral with risk to the downside , resistance comes at the 51.26 levels , a failure to hold above the 51.26 levels on a daily closing basis , could mean a return to the 48.32 levels , a halt is likely but a cut would open main support at the 43.57 levels , further down will target the 40.00 levels …

On the upside , resistance comes at the 51.26 levels , sustained breakout – daily closing – above the 51.26 levels will suggest short term bottoming and open 54.89 levels , a halt is likely but a break would open 59.25 levels.

In all , as long as 51.26 resistance holds on a daily closing basis (GMT close) , outlook in Crude Oil remains on the downside towards the 49.80/48.32 levels where a cut will open 43.57 levels , above 51.26 will bring rebound towards the 59.25 levels before the next move (fall)..

 

Crude Oil Daily Forecast Feb 27 2015

 

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