Tuesday Forecast
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 47.15, which will be followed by reaching resistance level 48.90 – 49.40.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 47.15, which will be followed by moving down to support level 46.10.
This/Next Week Forecast (January 4 – 8, 2021)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 48.93, which will be followed by reaching resistance level 50.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 47.47, which will be followed by moving down to support level 46.10 and if it keeps on moving down below that level, we may expect the market to reach support level 43.85.
previous week forecast
The Most Important News Of This Week
Monday
EU – Manufacturing PMI
US – Manufacturing PMI
Tuesday
US – ISM Manufacturing PMI
Wednesday
EU – Markit Composite PMI
US – ADP Nonfarm Employment Change, Markit Composite PMI, FOMC Meeting Minutes
Oil – Crude Oil Inventories
Thursday
EU – Core CPI, ECB Monetary Policy Statement
US – Initial Jobless Claims, ISM Non-Manufacturing PMI
Gas – Natural Gas Storage
Friday
EU – Unemployment Rate
US – Nonfarm Payrolls
Fundamental Analysis
Difference between supply and demand shows fair price between the levels $53.
Monthly Forecast, January 2021
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 43.00, which will be followed by reaching resistance level 53.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 43.00, which will be followed by moving down to support level 36.10 – 33.60.
previous month forecast
