Daily forecast, 23.09.16: break down of 45.75 will open target on 44.15
Main Scenario
Crude oil is trading along a sideways trend between support 45.75 and resistance 46.45.
The uptrend may be expected to continue in case the market rises above resistance level 46.45, which will be followed by reaching resistance level 47.30 and then to 48.20.
Alternative Scenario
An downtrend will start as soon, as oil drops below support level 45.75, which will be followed by a move down to support level 45.00 and then to 44.15.
Previous Forecast
Weekly forecast, September 19 - 23: downtrend to 41.10
Main Scenario
Oil is trading along an sideways trend between support 43.50 and resistane 44.45.
The downtrend may be expected to continue in case the market drops below support level 43.50, which will be followed by reaching support level 41.10.
Alternative Scenario
An uptrend will start as soon, as oil rises above resistance level 44.45, which will be followed by moving up to resistance level 45.70 and 47.30.
Previous Forecast
Monthly forecast, August/September 2016: rebound from49.50 with target on 41.30
Main Scenario
Oil is trading in uptrend, but will rebound from main resistance level 49.50, from that we can expect start of downtrend with target on 41.30.
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
Quarterly forecast, July - September 2016
Main Scenario
Oil 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
An downtrend will start as soon, as oil drops below support level 46.00, which will be followed by moving down to support level 41.00 and then 34.00.
Previous Forecast
Yearly forecast, 2016
Main Scenario
Oil 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 oil rises above resistance level 48.00, which will be followed by moving up to resistance level 60.00 and then to 75.00.
