WTI Crude Oil: Downtrend To 55.41 While Trading Below 56.66

The downtrend may be expected to continue, while crude oil is trading below resistance level 56.66, which will be followed by reaching support level 55.41.

WTI Crude oil, Monday Forecast, October 28

The downtrend may be expected to continue, while crude oil is trading below resistance level 56.66, which will be followed by reaching support level 55.41. An uptrend will start as soon, as crude oil rises above resistance level 56.66, which will be followed by moving up to resistance level 58.12.

(Click on image to enlarge)

Weekly Forecast, October 28 - November 1

The downtrend may be expected to continue, while crude oil is trading below resistance level 56.66, which will be followed by reaching support level 55.41 and 54.77. An uptrend will start as soon, as crude oil rises above resistance level 56.66, which will be followed by moving up to resistance level 58.12.

(Click on image to enlarge)

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