Crude Oil Forecast, Technical Analysis

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  • WTI Crude oil (CL), Futures market
    Wednesday forecast, July 1
    Uptrend
    The uptrend may be expected to continue, while pair is trading above support level 39.68, which will be followed by reaching resistance level 40.60 – 41.05.
    Downtrend
    An downtrend will start as soon, as the pair drops below support level 39.68, which will be followed by moving down to support level 38.85.

    Weekly forecast, June 29 – July 3
    Uptrend
    An uptrend will start as soon, as the pair rises above resistance level 39.35, which will be followed by moving up to resistance level 31.05 – 42.30.
    Downtrend
    The downtrend may be expected to continue, while pair is trading below resistance level 39.35, which will be followed by reaching support level 37.09 and if it keeps on moving down below that level, we may expect the pair to reach support level 34.35.

    Monthly forecast, July 2020
    Uptrend
    An uptrend will start as soon, as the pair rises above resistance level 41.05, which will be followed by moving up to resistance level 50.50.
    Downtrend
    The downtrend may be expected to continue, while pair is trading below resistance level 41.05, which will be followed by reaching support level 34.35 and if it keeps on moving down below that level, we may expect the pair to reach support level 26.00 – 21.42.

    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

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