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|Weekly forecast||West Texas Intermediate Oil technical chart|
There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (41.60 to 42.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
While the price is above the level 38.85, the probability of beginning of downtrend is too weak, so we would enter the market with sell trades based on Daily-Trading-Opportunities and a day close price below 38.85 and expect to reach short-term targets.
|Date||August 1, 2020 - 12:53|
|Forecast||beginning of downtrend|