WTI Crude oil, Friday forecast, January 24

WTI Crude oil, CL futures market
Friday forecast, January 24

Uptrend
An uptrend will start from support level 52.15, which will be followed by moving up to resistance level 53.15.
Downtrend
The downtrend may be expected to continue in case the market drops below support level 52.15, which will be followed by reaching support level 51.00.

Weekly forecast, January 27 – 31
Most important news of this week:
Monday: EU German Ifo Business Climate Index (Jan), US New Home Sales (Dec)
Tuesday: US Core Durable Goods Orders (MoM) (Dec)
Wednesday: US Pending Home Sales (MoM) (Dec), Crude Oil Inventories, FOMC Statement, Fed Interest Rate Decision, FOMC Press Conference
Thursday: EU Unemployment Rate (Dec), US GDP (QoQ) (Q4)
Friday: EU CPI (YoY) (Jan), GDP (YoY), US Michigan Consumer

Forecast and technical analysis
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 54.85, which will be followed by reaching support level 50.52 and if it keeps on moving down below that level, we may expect the pair to reach support level 45.50.
Uptrend
An uptrend will start or from support level 50.52, or as soon, as the pair rises above resistance level 54.85, which will be followed by moving up to resistance level 58.00.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 63.38, which will be followed by reaching resistance level 66.60.
Downtrend
An downtrend will start as soon, as the pair drops below support level 63.38, which will be followed by moving down to support level 61.45 and if it keeps on moving down below that level, we may expect the pair to reach support level 58.00.

WTI Crude oil, Friday forecast, January 24

WTI Crude oil, CL futures market, Friday forecast, January 24
Downtrend
The downtrend may be expected to continue, while pair is trading below resistance level 56.05, which will be followed by reaching support level 55.47, 55.20 and if it keeps on moving down below that level, we may expect the pair to reach support level 54.85.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 56.05 (or from support 54.85), which will be followed by moving up to resistance level 56.53 (or to 55.72 from 54.85).

Weekly forecast, January 20 – 24
Most important news of this week:
Monday: United States – Martin Luther King, Jr.
Tuesday: EU ZEW Economic Sentiment (Jan)
Wednesday: US Existing Home Sales (Dec)
Thusrday: EU Deposit Facility Rate (Jan), EU ECB Monetary Policy Statement, EU ECB Press Conference, Crude Oil Inventories
Friday: EU German Manufacturing PMI (Jan), EU Manufacturing PMI (Jan), US Manufacturing PMI (Jan)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 57.50, which will be followed by reaching resistance level 60.20 – 61.45.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.50, which will be followed by moving down to support level 55.20.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 63.38, which will be followed by reaching resistance level 66.60.
Downtrend
An downtrend will start as soon, as the pair drops below support level 63.38, which will be followed by moving down to support level 61.45 and if it keeps on moving down below that level, we may expect the pair to reach support level 58.00.

WTI Crude oil, Tuesday forecast, January 21

WTI Crude oil, CL futures market, Tuesday forecast, January 21
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 58.30, which will be followed by moving up to resistance level 59.04.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.90, which will be followed by moving down to support level 57.35.

Weekly forecast, January 20 – 24
Most important news of this week:
Monday: United States – Martin Luther King, Jr.
Tuesday: EU ZEW Economic Sentiment (Jan)
Wednesday: US Existing Home Sales (Dec)
Thusrday: EU Deposit Facility Rate (Jan), EU ECB Monetary Policy Statement, EU ECB Press Conference, Crude Oil Inventories
Friday: EU German Manufacturing PMI (Jan), EU Manufacturing PMI (Jan), US Manufacturing PMI (Jan)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 57.50, which will be followed by reaching resistance level 60.20 – 61.45.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.50, which will be followed by moving down to support level 55.20.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 63.38, which will be followed by reaching resistance level 66.60.
Downtrend
An downtrend will start as soon, as the pair drops below support level 63.38, which will be followed by moving down to support level 61.45 and if it keeps on moving down below that level, we may expect the pair to reach support level 58.00.

WTI Crude oil, Friday forecast, January 17

WTI Crude oil, CL futures market, Friday forecast, January 17
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 58.37, which will be followed by reaching resistance level 58.88 and 59.27.
Downtrend
An downtrend will start as soon, as the pair drops below support level 58.37, which will be followed by moving down to support level 57.90.

Weekly forecast, January 13 – 17
Most important news of this week:
Monday: –
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 58.35, which will be followed by reaching resistance level 63.70.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.90, which will be followed by moving down to support level 55.20.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 63.38, which will be followed by reaching resistance level 66.60.
Downtrend
An downtrend will start as soon, as the pair drops below support level 63.38, which will be followed by moving down to support level 61.45 and if it keeps on moving down below that level, we may expect the pair to reach support level 58.00.

WTI Crude oil, Tuesday forecast, January 14

WTI Crude oil, Tuesday forecast, January 14
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 58.30, which will be followed by moving up to resistance level 59.30.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.90, which will be followed by moving down to support level 57.00.

Weekly forecast, January 13 – 17
Most important news of this week:
Monday: –
Tuesday: US Core CPI (YoY) (Dec)
Wednesday: US-China trade war phase 1 deal, Crude Oil Inventories
Thursday: EU ECB Publishes Account of Monetary Policy Meeting, US Core Retail Sales (MoM) (Dec)
Friday: EU Core CPI (YoY) (Dec)

Forecast and technical analysis
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 58.35, which will be followed by reaching resistance level 63.70.
Downtrend
An downtrend will start as soon, as the pair drops below support level 57.90, which will be followed by moving down to support level 55.20.

Monthly forecast, January – February
Uptrend
The uptrend may be expected to continue, while pair is trading above support level 63.38, which will be followed by reaching resistance level 66.60.
Downtrend
An downtrend will start as soon, as the pair drops below support level 63.38, which will be followed by moving down to support level 61.45 and if it keeps on moving down below that level, we may expect the pair to reach support level 58.00.