WTI Crude oil (CL), Wednesday forecast, May 20

WTI Crude oil (CL), Futures market
Wednesday forecast, May 20
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 32.15, which will be followed by reaching resistance level 33.10.
Downtrend
An downtrend will start as soon, as the pair drops below support level 32.15, which will be followed by moving down to support level 31.62 and 31.08 – 30.93.

Weekly forecast, May 18 – 22
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 33.40, which will be followed by reaching resistance level 36.35 and if it keeps on moving up above that level, we may expect the pair to reach resistance level 41.05 – 42.35.
Downtrend
An downtrend will start as soon, as the pair drops below support level 27.80, which will be followed by moving down to support level 23.46 and 20.30 – 19.25.

Monthly forecast, May 2020
Uptrend
The uptrend may be expected to continue in case the market rises above resistance level 20.48, which will be followed by reaching resistance level 22.75 and 26.15.
Downtrend
An downtrend will start as soon, as the pair drops below support level 16.90, which will be followed by moving down to support level 11.00.


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