WTI Crude oil, Friday forecast, August 16
The uptrend may be expected to continue, while crude oil is trading above support level 54.90, which will be followed by reaching resistance level 56.35. A downtrend will start as soon, as crude oil drops below support level 54.90, which will be followed by moving down to support level 54.44 and if it keeps on moving down below that level, we may expect the pair to reach support level 53.77.
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Weekly forecast, August 12 - 16
The uptrend may be expected to continue, while crude oil is trading above support level 52.60, which will be followed by reaching resistance level 56.20. A downtrend will start as soon, as crude oil drops below support level 52.60, which will be followed by moving down to support level 50.63.
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