Crude Oil Daily Forecast Jan 08 2015

oil-65984-min-compressor

Short term outlook in Crude Oil has turned to the upside as long as 48.50 support holds on a 4 hour closing basis , resistance comes at the 50.00 levels where strong rejection is suggested, however ; sustained trading above the 50.00 levels will extend recovery towards the 51.40 levels before the next possible fall..

On the downside , support comes at the 48.50 levels , losing this level on a 4 hour closing basis will restore the downside momentum and open the 47.00 levels , a cut would open 46.00 next , further down will target the 45.00 levels .

In all , as long as 48.50 support holds on a 4 hour closing basis , short term outlook in Crude Oil remain on the upside towards the 50.00 levels , below 48.50 will restore the downside momentum  and open 47.00 levels ahead of the 46.00 levels.

 

Crude Oil Daily Forecast Jan 08 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS