WTI Crude Oil Forecast - Monday, July 6

WTI Crude oil (CL), Futures market

Monday forecast, July 6

Uptrend

A downtrend will start as soon, as crude oil drops below support level 40.74, which will be followed by moving down to support level 41.05 - 31.63.

Downtrend

The downtrend may be expected to continue, while crude oil is trading below resistance level 40.74, which will be followed by reaching support level 39.84.

(Click on image to enlarge)

Weekly forecast, July 6 - 10

Uptrend

The uptrend may be expected to continue, while crude oil is trading above support level 39.59, which will be followed by reaching resistance level 42.30.

Downtrend

A downtrend will start as soon, as crude oil drops below support level 39.59, which will be followed by moving down to support level 38.04 - 36.03.

(Click on image to enlarge)

Monthly forecast, July 2020

Uptrend

An uptrend will start as soon, as crude oil rises above resistance level 41.05, which will be followed by moving up to resistance level 50.50.

Downtrend

The downtrend may be expected to continue, while crude oil is trading below resistance level 41.05, which will be followed by reaching support level 34.35 and if it keeps on moving down below that level, we may expect crude oil to reach support level 26.00 - 21.42.

(Click on image to enlarge)