WTI Crude oil (CL), Futures market
Thursday forecast, March 5
Sideways
Crude oil is trading along with a sideways trend between resistance 47.56 and support 46.47.
Uptrend
An uptrend will start as soon, as crude oil rises above resistance level 47.56, which will be followed by moving up to resistance level 48.66 and if it keeps on moving up above that level, we may expect crude oil to reach resistance level 50.50.
Downtrend
A downtrend will start as soon, as crude oil drops below support level 46.47, which will be followed by moving down to support level.
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Weekly forecast, March 2 - 7
Downtrend
The downtrend may be expected to continue, while crude oil is trading below resistance level 45.25 - 46.50, which will be followed by reaching support level 42.40.
Uptrend
An uptrend will start as soon, as crude oil rises above resistance level 46.50, which will be followed by moving up to resistance level 50.50.
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Monthly forecast, March 2020
Downtrend
The downtrend may be expected to continue in case the market drops below support level 42.40, which will be followed by reaching support level 39.20, 35.35, 26.15.
Correction
A correction may start from support 42.40 to resistance 50.50.
Uptrend
An uptrend will start as soon, as crude oil rises above resistance level 50.50, which will be followed by moving up to resistance level 63.80.
(Click on image to enlarge)
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