WTI Crude oil, Thursday forecast, August 29
The downtrend may be expected to continue, while crude oil is trading below resistance level 56.12, which will be followed by reaching support level 55.26, 54.56 and then 52.21 - 53.77.
An uptrend is not expecting today, the market has strong resistance between levels 56.12 - 56.74.
Weekly forecast, August 26 - 30
The downtrend may be expected to continue, while crude oil is trading below resistance level 54.95, which will be followed by reaching support level 52.55 and if it keeps on moving down below that level, we may expect the pair to reach support level 50.52.
A downtrend will start as soon, as crude oil drops below support level 54.95, which will be followed by moving down to support level 57.50.
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