Crude Oil Weekly Forecast Feb 02 2015

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Outlook in Crude Oil remains on the downside as long as 48.09 resistance holds on a weekly closing basis ,support comes at the 43.59 levels, a halt is strongly suggested , but a cut would open 40.00 next ,further down will target the 32.40 levels.

On the upside , resistance comes at the 48.09 levels , sustained breakout above the 48.09 levels will turn outlook neutral and open the 52.84 levels before the next fall , however ; If 52.84 is taken out on a weekly closing basis , a short term bottom will be confirmed , If seen , strong rebound towards the 66.12 levels will be in sight !!!!

In all , as long as 48.09  resistance holds on a weekly closing basis , outlook in Crude Oil remains on the downside towards the 43.59 levels where a cut will open the 40.00/32.40 levels , sustained breakout above the 48.09 levels will turn outlook neutral and open the 52.84 levels before the next fall.

 

Crude Oil Weekly Forecast Feb 02 2015

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