Crude Oil Daily Forecast Jan 29 2015

Outlook in Crude Oil remains on the downside as long as 46.00 resistance holds on a 4 hour closing basis , support comes at the 43.59 levels , a halt is likely but a cut would open 42.00 next , further down will target the 40.00 levels.

On the upside , resistance comes at the 46.00 levels , sustained breakout above the 46.00 levels will turn outlook neutral and bring rebound towards the 49.35 levels before the next fall..

In all , as long as 46.00 resistance holds on a 4 hour closing basis , outlook in Crude Oil remains on the downside towards the 43.60 levels where a cut will open 42.00/40.00 levels , a clear break above the 46.00 levels will turn outlook neutral and bring consolidation below the 49.35 levels before the next fall.