Crude Oil Daily Forecast Jan 21 2015

oil-65984-min-compressor

Outlook in Crude Oil remains neutral at the moment , support comes at the 44.75 levels while resistance comes at the 49.35 levels.

On the upside , sustained trading above the 49.35 levels will suggest short term bottoming and recapture the 52.45 levels , a halt is likely but a break would open 55.25 next , further upside will pave the way towards the 59.00 levels.

On the downside , support comes at the 44.75 levels , a clear break below this level is needed to resume the downward trend and open 43.60 levels a halt is likely but a cut would open 42.00 levels..

In all , the Crude Oil is likely to consolidate within 44.75/49.35 levels before the next move , above the 49.35 level will look for the 52.45/55.25 levels , while below the 44.75 levels will increase the risk towards the 43.60/42.00 levels.

 

CrudeOil Daily Forecast Jan 21 2015

MARKET DATA

UPCOMING ECONOMIC EVENTS