WTI Crude oil, Thursday forecast, August 15

The downtrend may be expected to continue, while pair is trading below resistance level 54.80 - 55.30, which will be followed by reaching support level 53.55 and 52.60.

An uptrend will start as soon, as the pair rises above resistance level 55.30, which will be followed by moving up to resistance level 56.20.

Weekly forecast, August 12 - 16

The uptrend may be expected to continue, while pair is trading above support level 52.60, which will be followed by reaching resistance level 56.20.

A downtrend will start as soon, as the pair drops below support level 52.60, which will be followed by moving down to support level 50.63.