Crude Oil Daily Forecast Nov 05 2014

Oil

Outlook in Crude Oil  has turned neutral with risk to the downside , resistance comes at the 78.37 levels , a failure to hold above the 78.37 levels on a daily closing basis could mean a return to the 75.88 levels , a cut will resume the whole fall towards the 73.50 levels , a halt is likely , but losing the 73.50  levels will continue losses towards the 70.40/67.00  levels .

On the upside , resistance comes at the 78.37  levels , sustained trading – daily closing – above the 78.37  levels will put the pair in recovery mode , but upside move above the 78.37  levels should be limited  by the 80.94  levels .However ; a clear break above the 80.94  levels will extend recovery towards the 82.84/84.77 levels.

In all , as long as resistance 78.37 holds on a daily closing basis , outlook in crude Oil remains on the downside towards the 75.88/73.50  levels , a clear break above the 78.37  levels will bring recovery towards  the 80.94 levels before the next fall..

 

Crude Oil Daily Forecast Nov 05 2014

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