WTI Crude oil downtrend continue below 49.00 to 47.00

Anton Kolhanov Anton Kolhanov

WTI Crude oil, CL futures market Wednesday forecast, February 26

Downtrend
The downtrend may be expected to continue while market is trading below resistance level 49.60 or in case the market drops below support level 49.00, which will be followed by reaching support level 47.00.
Uptrend
An uptrend will start as soon, as the pair rises above resistance level 49.60, which will be followed by moving up to resistance level 50.50.

Author

Anton Kolhanov

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

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