WTI Crude oil (CL), Futures market

Monday, March 2

Downtrend

The downtrend may be expected to continue, while crude oil is trading below resistance level 45.70, which will be followed by reaching support level 37.90.

Uptrend

An uptrend will start as soon, as crude oil rises above resistance level 45.70, which will be followed by moving up to resistance level 46.70.

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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

An 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)