Crude Oil Daily Forecast Nov 18 2014

Oil

Outlook in Crude Oil has turned neutral with risk to the downside , resistance comes at the 76.24 levels , a failure to hold above the 76.24 levels on a daily closing basis could mean a return to the 73.23 levels , a cut would open 71.45 next , a halt is likely , but further losses will pave the way towards the 69.15 levels ahead of the 66.66 levels.

On the upside , resistance comes at the 76.24 levels , break of  76.24 levels on a daily closing basis will put the pair in recovery mode , but recovery above the 76.24 levels should be limited by the 79.81 levels where fall resumption is likely .

In all , as long as resistance 76.24 holds on a daily closing basis , outlook in Crude Oil remains on the downside towards the 73.23 levels ahead of the 71.45 levels , above 76.24 faces a  recovery risk towards the 79.81 levels before the next fall.

 

 

Crude Oil Daily Forecast Nov 18 2014

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