WTI Crude Oil, CL Futures market
Monday forecast, February 10
Downtrend
The downtrend may be expected to continue, while crude is trading below resistance level 50.30 - 50.50, which will be followed by reaching support level 49.88 and 49.56.
Uptrend
An uptrend will start as soon, as crude rises above resistance level 50.50, which will be followed by moving up to resistance level 51.00.
(Click on image to enlarge)
Weekly forecast, February 10 - 14
Forecast and technical analysis
Downtrend
The downtrend may be expected to continue in case the market drops below support level 49.22, which will be followed by reaching support level 47.00.
Uptrend
An uptrend will start as soon, as crude rises above resistance level 51.20, which will be followed by moving up to resistance level 52.70.
(Click on image to enlarge)
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