WTI Crude Oil: Downtrend Continues To 53.93 And 53.25 While Trading Below 54.80

Forex Trader • Oct 1, 2019 at 7:25 AM EDT

The downtrend may be expected to continue, while crude oil is trading below resistance level 54.80, which will be followed by reaching the support level 53.93.

WTI Crude oil, Tuesday forecast, October 1

The downtrend may be expected to continue, while crude oil is trading below resistance level 54.80, which will be followed by reaching the support level 53.93 and if it keeps on moving down below that level, we may expect crude oil to reach support level 53.25.

An uptrend will start as soon, as crude oil rises above resistance level 54.80, which will be followed by moving up to resistance level 55.55 and if it keeps on moving up above that level, we may expect crude oil to reach resistance level 56.65.

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