Crude oil Wednesday Forecast

Wednesday Forecast (March 8, 2023)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 78,32, which will be followed by moving up to resistance level 80,78.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 78,32, which will be followed by reaching support level 75,83.

Weekly Forecast (March 6 – 10, 2023)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 77,1, which will be followed by reaching resistance level 80,78 and if it keeps on moving up above that level, we may expect the market to reach resistance level 82,89.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 77,71, which will be followed by moving down to support level 73,80.

Monthly Forecast, February – March 2023

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 82,89, which will be followed by moving up to resistance level 88,65.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 82,89, which will be followed by reaching support level 72,64 – 70,86 and if it keeps on moving down below that level, we may expect the market to reach support level 66,00.

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