Crude Oil Daily Forecast Mar 06 2015

oil22 min
oil22 min

Outlook in Crude Oil remains on the upside as long as 50.40/49.59 support holds on a daily closing basis , resistance comes at the 51.97 levels , a halt is likely , but a break would open 53.10 next , further upside will target the 54.89 levels.

On the downside , support comes at the 50.40 levels ahead of the 49.59 levels (main) , sustained breakout – daily closing – below 49.59 will suggested short term topping and bring a corrective pullback above the 47.89 levels before the next rise…

In all , as long as 50.40/49.59 support holds on a daily closing basis , outlook in Crude Oil remains on the upside towards the 51.97 levels ahead of the 53.10 , below 49.59 faces a pullback risk followed by a consolidation  above the 47.89  levels before the next rise…

 

Crude Oil Daily Forecast Mar 06  2015

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