Crude Oil Daily Forecast Jan 23 2015

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Outlook in Crude Oil remains neutral at the moment , support comes at the 44.75 levels while resistance comes at the 49.35 levels.

On the upside , sustained trading above the 49.35 levels will suggest short term bottoming and recapture the 52.45 levels , a halt is likely but a break would open 55.25 next , further upside will pave the way towards the 59.00 levels.

On the downside , support comes at the 44.75 levels , a clear break below this level is needed to resume the downward trend and open 43.60 levels a halt is likely but a cut would open 42.00 levels..

In all , the Crude Oil is likely to consolidate within 44.75/49.35 levels before the next move , above the 49.35 level will look for the 52.45/55.25 levels , while below the 44.75 levels will increase the risk towards the 43.60/42.00 levels.

I’ve heard a rumor few days ago (not sure about it). The actual price of Crude Oil is below 28.00 or below 25.00 , but US government prevents any one in the world from selling the Crude Oil below 45.00 $ ???!!!!!!!!!! If this is true , 45.00 may hold ?!!!! 

 

Crude Oil Daily Forecast Jan 23 2015

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