Crude Oil Daily Forecast Mar 10 2015

oil22 min
oil22 min

Outlook in Crude Oil remains on the downside as long as 51.16 resistance holds on a daily closing basis, support comes at the 47.80 levels, a halt is likely but a cut would open 45.85 next, further down will target the 43.35 levels.

On the upside, resistance comes at the 51.16 levels, a sustained breakout above the 51.16 levels will turn outlook neutral and bring rebound towards the 55.00 levels before the next fall…

In all, as long as 51.16 resistance holds on a daily closing basis, the outlook in Crude Oil remains on the downside towards the 47.80 levels where a cut will open 45.85/43.35 levels, a clear break above the 51.15 levels will turn outlook neutral and bring consolidation below the 55.00 levels before the next fall.

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