Crude oil Wednesday Forecast

Wednesday Forecast (October 26, 2022)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 85.92, which will be followed by reaching resistance level 87.14 and 89.73.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 85.92, which will be followed by moving down to support level 84.14 and 82.63.

Weekly Forecast (October 24 – 28, 2022)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 87.12, which will be followed by moving up to resistance level 90.19 and 93.64.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 87.12, which will be followed by reaching support level 81.20 – 79.74.

previous week forecast

Monthly Forecast, October 2022

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 97,66, which will be followed by moving up to resistance level 107,86.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 92.10 – 97,66, which will be followed by reaching support level 76,10 and if it keeps on moving down below that level, we may expect the market to reach support level 65,65.

previous week forecast

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