WTI, Important Technical Analysis Update

TVC:USOIL   CFDs on WTI Crude Oil
Midterm forecast:
While the price is below the resistance 42.90, beginning of downtrend is expected.
We make sure when the support at 30.85 breaks.
If the resistance at 42.90 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:
There is a divergence in RSI and price between the peak at 40 .565 on 2020-06-08 and the peak at 41.61 on 2020-06-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
A trough is formed in daily chart at 38.60 on 07/10/2020, so more gains maximum to Major Resistance (42.90) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 59.

❤️ If you find this helpful and want more FREE forecasts in TradingView

. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!

❤️ Your Support is very much 🙏 appreciated!❤️

💎 Want us to help you become a better Forex trader?

Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.

Trade well, ❤️
ForecastCity English Support Team ❤️
HighAccurate forecast for
★36 Forex Pairs: 750,000 pips track record profit
★34 Cryptos
★Gold, Silver, Oils, Gas
★Best Profitable Trading Strategies

in 8 languages

since 2007
★FREE Telegram


Thanks again for your really good TA.🌹🙏🌹
+2 Reply
@fxniki, Thanks 💎🙏💎
thanks for your idea
+2 Reply
ForecastCity Kristalyn
@Kristalyn, You're welcome. 💎🙏💎
Your analysis is very accurate.
+2 Reply
ForecastCity Josef_anderson
@Josef_anderson, Sure it is. Thanks for your comment. 💎🙏💎
Although I don't trade usoil but the effort you guys put into your analysis that's awesome and indeed very helpful for new traders like myself.
Tariq Khan
+1 Reply
ForecastCity Tariq_Kh2n
@Tariq_Kh2n, We're glad you like it. 💎🙏💎
thank you for the update.
+1 Reply
ForecastCity Forecast_Crypto
@Forecast_Crypto, You're welcome. 💎🙏💎
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out