WTI Forecast: Downtrend To 1294
Anton Kolhanov | Oct 05, 2016 06:01AM ET
Main scenario:
The market is trading along a sideways trend between support 47.90 and resistance 49.00.
A downtrend will start as soon, as the market drops below support level 47.90, which will be followed by a move down to support level 46.00.
Alternative scenario:
An uptrend will start as soon as the market rises above resistance level 49.00, which will be followed by a move up to resistance level 50.50.
Previous forecast:
Main scenario:
Market rebounded down from resistance 49.00, form that we can expect start of downtrend as soon, as the market drops below support level 47.90, which will be followed by a move down to support level 46.00 and if it keeps on moving down below that level, we may expect the market to reach support level 43.00.
Alternative scenario:
An uptrend will start as soon as the market rises above resistance level 49.00, which will be followed by a move up to resistance level 51.50.
previous forecast:
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Main scenario:
Market rebounded down from resistance 49.
Alternative scenario:
The uptrend may be expected to continue in case the market rises above resistance level 49.50, which will be followed by reaching resistance level 53.00.
previous forecast:
Main scenario:
The pair is trading along an uptrend, that may be expected to continue in case the market rises above resistance level 50.50, which will be followed by reaching resistance level 60.00.
Alternative scenario:
A downtrend will start as soon, as the pair drops below support level 46.00, which will be followed by moving down to support level 41.00 and then 34.00.
Previous forecast:
Main scenario:
The pair is trading along an downtrend with target on 28.00 - 24.00, that may be expected to continue, while pair is trading below resistance level 48.00
Alternative scenario:
An uptrend will start as soon, as the pair rises above resistance level 48.00, which will be followed by moving up to resistance level 60.00 and then to 75.00.
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