WTI Crude Oil: The Uptrend Can Start From Support Level 58.05 With A Target On 59.50

Forex Trader • Sep 23, 2019 at 9:23 AM EDT

The market is trading in a downtrend with a target on support 58.05 and if it keeps on moving down below that level, we may expect crude oil to reach support level 57.50.

WTI Crude oil, Monday forecast, September 23

The market is trading in a downtrend with a target on support 58.05 and if it keeps on moving down below that level, we may expect crude oil to reach support level 57.50. An uptrend will start from support 58.05, which will be followed by moving up to resistance level 59.50.

(Click on image to enlarge)

Weekly forecast, September 23 - 27

A downtrend will start as soon, as crude oil drops below support level 57.50, which will be followed by moving down to support level 55.05. An uptrend will start as soon, as crude oil rises above resistance level 60.28, which will be followed by moving up to resistance level 63.10.

(Click on image to enlarge)

Disclaimer:

All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.