WTI Crude oil continue downtrend to 22.80 while trading below 26.14

WTI Crude oil (CL), Futures market – Wednesday forecast, March 18

Downtrend

The downtrend may be expected to continue, while pair is trading below resistance level 26.14, which will be followed by reaching support level 22.80.

Uptrend

An uptrend will start as soon, as the pair rises above resistance level 26.14, which will be followed by moving up to resistance level 27.33.

Weekly forecast, March 16 - 20

Downtrend

The downtrend may be expected to continue, while pair is trading below resistance level 30.00, which will be followed by reaching support level 27.56 and 26.15.

Uptrend

An uptrend will start as soon, as the pair rises above resistance level 30.00, which will be followed by moving up to resistance level 34.85 - 36.34.

Monthly forecast, March 2020

Downtrend

The downtrend may be expected to continue in case the market drops below support level 42.40, which will be followed by reaching support level 39.20, 35.35, 26.15.

Correction

An correction may start from support 42.40 to resistance 50.50.

Uptrend

An uptrend will start as soon, as the pair rises above resistance level50.50, which will be followed by moving up to resistance level 63.80.