Crude Oil Daily Forecast Jan 30 2015

oil-65984-min-compressor

Outlook in Crude Oil remains on the downside as long as 44.95/46.00 resistance holds on a 4 hour closing basis , support comes at the 43.59 levels (weekly support) , a halt is likely but a cut will extend losses towards the 42.00 levels , further down will target the 40.00 levels.

On the upside , resistance comes at the 44.95 levels ahead of the 46.00 levels (main), sustained breakout above the 46.00 levels will turn outlook neutral and bring rebound towards the 49.35/50.00 levels before the next possible fall..

In all , as long as 44.95/46.00 resistance holds on a 4 hour closing basis , outlook in Crude Oil remains on the downside towards the 43.60 levels where a cut will open 42.00/40.00 levels , a clear break above the 46.00 levels will bring strong rebound towards the 49.35/50.00 levels before the next fall.

 

Crude Oil Daily Forecast Jan 30 2015

 

MARKET DATA

UPCOMING ECONOMIC EVENTS