Crude Oil Daily Forecast Jan 06 2015

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Outlook in Crude Oil remains on the downside as long as 52.00 resistance holds on a 4 hour closing basis , support comes at the 50.00 levels , a halt is likely but a cut would open 48.00 next , further down will target the 47.00 levels.

On the upside , resistance comes at the 52.00 levels , break of the 52.00 levels on a 4 hour closing basis will turn outlook neutral and open 55.00 levels  before the next fall , If 55.00 is taken out on a 4 hour closing basis , expect recovery to to be extended  towards the 59.25/60.00 levels before the next possible fall..

In all , as long as 52.00 resistance holds on a 4 hour closing basis , outlook in Crude Oil remains on the downside towards the 50.00 levels ahead of the 48.00 levels , above 52.00 will reverse risk towards the 55.00 levels before the next possible fall.

 

Crude Oil Daily Forecast Jan 06 2015

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