ForecastCity

WTI . Weekly Technical Analysis Update

Short
TVC:USOIL   CFDs on WTI Crude Oil
Midterm forecast:
While the price is below the resistance 43.75, beginning of downtrend is expected.
We make sure when the support at 37.10 breaks.
If the resistance at 43.75 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:
A peak is formed in daily chart at 41.70 on 09/18/2020, so more losses to support(s) 38.85 and minimum to Major Support (37.10) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 49.

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Comments

Another great update.
+3 Reply
DenizKilicDeniz DenizKilicDeniz
Thanks a lot. Your analysis saved me. ❤️
+3 Reply
ForecastCity DenizKilicDeniz
@DenizKilicDeniz, We're happy to help!
+2 Reply
ForecastCity DenizKilicDeniz
@DenizKilicDeniz, Thank you! We appreciate your comment.
+2 Reply
Good forecast, hope to see more.
+2 Reply
ForecastCity Mehmetozdemi
@Mehmetozdemi, Thank you! We appreciate your comment.
+1 Reply
Thank you for your analysis and good luck. 🌸
+1 Reply
ForecastCity Pro_Trader_007
@Pro_Trader_007, You're welcome. 👍
Reply
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