Crude Oil Daily Forecast Jan 07 2015

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Outlook in Crude Oil remains on the downside as long as 48.45 resistance holds on a 4 hour closing basis , support comes at the 47.00 levels , a halt is likely but a cut would open 46.00 next , further down will target the 45.00 levels.

On the upside , resistance comes at the 48.45 levels , break of the 48.45 levels on a 4 hour closing basis will turn outlook neutral and open 49.95 levels  before the next fall , If 49.95 is taken out on a 4 hour closing basis , expect recovery to to be extended  towards the 52.00 levels before the next possible fall..

In all , as long as 48.45 resistance holds on a 4 hour closing basis , outlook in Crude Oil remains on the downside towards the 47.00 levels ahead of the 46.00 levels , above 48.45 will reverse risk towards the 49.95 levels before the next possible fall.

 

Crude Oil Daily Forecast Jan 07 2015

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