Crude Oil is likely to move down to the 73.78 level

Anton Kolhanov Anton Kolhanov

Wednesday forecast (July 26, 2023)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 77,15, which will be followed by reaching resistance level 81,44.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 77,15, which will be followed by moving down to support level 73,78.

Weekly forecast (July 24 – 28, 2023)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 77,15, which will be followed by reaching resistance level 81,44.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 77,15, which will be followed by moving down to support level 73,78.

Monthly forecast, July 2023

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 75,70, which will be followed by moving up to resistance level 82,24.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 75,70, which will be followed by reaching support level 72,72 and 66,96.

Author

Anton Kolhanov

Anton Kolhanov is a trader and an analyst. He started to study the Forex market in 2003.

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