ForecastCity_ME

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

Great and on time update.
+1 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, Thanks for your comment
+1 Reply
Mesutkashmar ForecastCity_ME
@ForecastCity_ME, Thanks to you for taking the time and sharing it.
+1 Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, It's always a pleasure
Reply
ForecastCity_ME Mesutkashmar
@Mesutkashmar, Hope you make the most out of it
Reply
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