Thursday Forecast

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 41.65, which will be followed by moving up to resistance level 43.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 40.50, which will be followed by moving down to support level 39.

Oil

Previous day forecast

Chart

This/Next Week Forecast (October 12 - 16, 2020)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 41.65, which will be followed by moving up to resistance level 43.75.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 41.65, which will be followed by reaching support level 38.70 and if it keeps on moving down below that level, we may expect the market to reach support level 36.60.

Oil

Previous week crude oil forecast chart

Chart Crude oil This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand showing fair price between the levels 45 - 52.

Chart

Long-term Forecast (Quarter III: July - September, 2020)

Uptrend scenario

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 scenario

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.

oil

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 any trading instrument. 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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