Crude Oil Daily Forecast Nov 11 2014


The Crude Oil continued its bearish momentum yesterday , printed resistance at the 79.81 levels .This development leaves the pair targeting the 74.80 levels , a halt is likely , but a cut would open 72.15 next , further downside will aim the 69.15 levels.

On the upside , resistance comes at the 78.40 levels ahead of the 79.81 levels (main) , a clear break above the 79.81 levels will turn outlook neutral for retesting the 82.85/84.78 levels before the next fall.

In all , as long as resistance 79.81 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 74.80 levels ahead of the 72.15 levels. Above 79.81 will bring limited gains towards  82.85/84.78 levels.


Crude Oil Daily Forecast Nov 11 2014