Weekly WTI Technical Analysis and Forecast - Commodities - Forecast City

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Weekly forecast		West Texas Intermediate Oil technical chart
Symbol	WTI	Download MT4 template file Trading suggestion: By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
Date	March 6, 2021 - 18:06
Current	range bound
Forecast	beginning of downtrend
Midterm forecast: While the price is below the resistance 66.500, beginning of downtrend is expected. We make sure when the support at 58.550 breaks. If the resistance at 66.500 is broken, the short-term forecast -beginning of downtrend- will be invalid. Technical analysis: While the RSI uptrend #1 is not broken, bullish wave in price would continue. A trough is formed in daily chart at 59.05 on 03/03/2021, so more gains maximum to Major Resistance (66.50) 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 70. Supports and Resistances: 58.55 Support on 02/19/2021 Resistance on 02/11/2021 Resistance on 02/10/2021 Resistance on 02/09/2021 Support on 01/20/2020 Support on 01/17/2020 Support on 01/10/2020 Support on 01/09/2020 Resistance on 12/05/2019 Resistance on 12/04/2019 Resistance on 11/27/2019 Resistance on 11/26/2019 Resistance on 11/22/2019 Resistance on 11/21/2019 Resistance on 09/24/2019 Resistance on 09/10/2019 Resistance on 07/31/2019 Resistance on 07/30/2019 Resistance on 07/17/2019 Resistance on 07/09/2019 Resistance on 07/08/2019 Support on 05/29/2019 Support on 05/28/2019 Support on 05/27/2019 Support on 03/28/2019 Support on 03/25/2019 Support on 03/22/2019 Support on 03/20/2019 Support on 03/18/2019 Support on 02/14/2018 Support on 02/13/2018 Support on 02/09/2018 Resistance on 12/22/2017 Resistance on 12/12/2017 Resistance on 12/01/2017 56.70 Support on 02/08/2021 Support on 11/21/2019 Support on 11/18/2019 Support on 11/15/2019 Support on 11/14/2019 Support on 11/13/2019 Resistance on 11/04/2019 Resistance on 10/28/2019 Resistance on 10/25/2019 Support on 09/24/2019 Resistance on 09/06/2019 Resistance on 09/05/2019 Resistance on 08/30/2019 Resistance on 08/29/2019 Resistance on 08/28/2019 Resistance on 08/21/2019 Resistance on 08/14/2019 Resistance on 08/13/2019 Resistance on 07/26/2019 Resistance on 07/25/2019 Resistance on 07/22/2019 Resistance on 07/18/2019 Support on 07/05/2019 Support on 07/04/2019 Resistance on 05/31/2019 Resistance on 03/08/2019 Resistance on 03/07/2019 Resistance on 03/06/2019 Resistance on 03/05/2019 Resistance on 03/04/2019 Resistance on 02/19/2019 Resistance on 02/18/2019 Resistance on 11/14/2018 Support on 11/29/2017 Support on 11/13/2017 Support on 11/10/2017 Support on 11/08/2017 53.90 Resistance on 01/20/2021 Resistance on 01/15/2021 Resistance on 01/14/2021 Resistance on 01/13/2021 Resistance on 02/21/2020 Resistance on 02/20/2020 Resistance on 02/19/2020 Support on 01/24/2020 Support on 11/01/2019 Support on 10/31/2019 Support on 10/23/2019 Resistance on 10/21/2019 Resistance on 10/16/2019 Resistance on 10/15/2019 Resistance on 10/10/2019 Resistance on 10/07/2019 Resistance on 10/02/2019 Support on 09/30/2019 Support on 09/12/2019 Support on 08/15/2019 Support on 08/14/2019 Support on 08/13/2019 Resistance on 08/07/2019 Support on 08/01/2019 Resistance on 06/11/2019 Support on 02/14/2019 Resistance on 02/12/2019 Support on 02/06/2019 Support on 02/05/2019 Support on 02/04/2019 Support on 02/01/2019 Resistance on 01/29/2019 Resistance on 01/25/2019 Resistance on 12/07/2018 Resistance on 12/05/2018 Resistance on 12/04/2018 Resistance on 12/03/2018 Resistance on 11/23/2018 Support on 11/22/2018 Support on 11/01/2017 Support on 10/31/2017 Support on 10/30/2017 51.60 Support on 02/01/2021 Trough on 02/01/2021 Support on 01/27/2021 Support on 01/25/2021 Support on 01/22/2021 Support on 01/18/2021 Resistance on 02/25/2020 Support on 02/18/2020 Support on 02/14/2020 Resistance on 02/07/2020 Resistance on 02/06/2020 Resistance on 02/05/2020 Resistance on 02/04/2020 Resistance on 02/03/2020 Support on 01/30/2020 Support on 10/10/2019 Support on 10/08/2019 Support on 10/03/2019 Support on 08/07/2019 Support on 06/18/2019 Support on 06/06/2019 Support on 06/05/2019 Support on 02/11/2019 Support on 01/28/2019 Resistance on 12/17/2018 Support on 12/07/2018 Support on 12/06/2018 Resistance on 11/30/2018 Resistance on 11/29/2018 Support on 10/24/2017 Resistance on 10/11/2017 Support on 09/29/2017 Support on 09/28/2017 Resistance on 05/25/2017 Resistance on 05/24/2017 Resistance on 05/23/2017 Resistance on 04/05/2017 Resistance on 04/04/2017 Support on 02/08/2017 Support on 01/18/2017 Support on 12/16/2016 Support on 12/15/2016 Support on 12/14/2016 Resistance on 12/01/2016 Resistance on 10/14/2016 Resistance on 10/12/2016 Resistance on 10/11/2016 Resistance on 10/10/2016 Resistance on 07/20/2015 Support on 07/14/2015 Support on 07/13/2015 Support on 07/12/2015 Support on 07/09/2015 Support on 07/08/2015 Support on 07/07/2015 Support on 04/14/2015 Support on 04/13/2015 Support on 04/07/2015 Resistance on 03/26/2015 Resistance on 03/05/2015 Resistance on 03/04/2015 Support on 02/18/2015 Resistance on 02/12/2015 Resistance on 02/05/2015 Resistance on 02/04/2015 Resistance on 02/03/2015 48.75 Resistance on 01/04/2021 Resistance on 12/30/2020 Resistance on 12/28/2020 Resistance on 12/24/2020 Resistance on 12/17/2020 Resistance on 03/04/2020 Resistance on 03/03/2020 Resistance on 02/27/2020 Support on 01/08/2019 Resistance on 01/04/2019 Support on 09/13/2017 Resistance on 09/12/2017 Resistance on 09/11/2017 Support on 08/07/2017 Support on 08/04/2017 Support on 08/03/2017 Support on 08/02/2017 Support on 08/01/2017 Resistance on 07/26/2017 Resistance on 07/25/2017 Support on 05/26/2017 Support on 05/01/2017 Support on 04/27/2017 Resistance on 03/28/2017 Support on 03/20/2017 Support on 03/15/2017 Support on 03/14/2017 Support on 03/13/2017 Support on 03/10/2017 Resistance on 11/23/2016 Resistance on 11/22/2016 Resistance on 11/21/2016 Resistance on 10/31/2016 Support on 10/28/2016 Resistance on 09/30/2016 Resistance on 09/29/2016 Resistance on 08/26/2016 Resistance on 07/07/2016 Support on 06/22/2016 Support on 06/21/2016 Support on 06/20/2016 Support on 06/13/2016 Support on 06/03/2016 Support on 06/02/2016 Support on 06/01/2016 Support on 05/27/2016 Support on 05/25/2016 Resistance on 05/16/2016 Resistance on 11/04/2015 Resistance on 11/03/2015 Resistance on 10/13/2015 Resistance on 09/03/2015 Resistance on 09/01/2015 Resistance on 08/31/2015 Support on 04/02/2015 Support on 03/26/2015 Resistance on 03/12/2015 Support on 03/06/2015 Support on 03/02/2015 Support on 02/27/2015 Support on 02/26/2015 Support on 02/25/2015 Support on 02/24/2015 Support on 02/23/2015 Support on 02/12/2015 Support on 02/11/2015 Resistance on 01/22/2015 Resistance on 01/15/2015 Resistance on 01/14/2015 Resistance on 01/07/2015 46.30 Support on 12/23/2020 Support on 12/21/2020 Support on 12/14/2020 Support on 12/11/2020 Resistance on 12/09/2020 Resistance on 12/07/2020 Resistance on 12/04/2020 Resistance on 11/26/2020 Resistance on 11/25/2020 Resistance on 03/06/2020 Support on 03/03/2020 Support on 02/27/2020 Resistance on 12/31/2018 Resistance on 12/28/2018 Resistance on 12/24/2018 Resistance on 12/21/2018 Support on 12/19/2018 Support on 08/29/2017 Support on 08/28/2017 Support on 07/25/2017 Support on 07/19/2017 Resistance on 07/13/2017 Resistance on 07/12/2017 Support on 07/03/2017 Resistance on 06/14/2017 Support on 05/10/2017 Support on 05/09/2017 Support on 05/08/2017 Resistance on 11/17/2016 Resistance on 11/15/2016 Resistance on 11/10/2016 Resistance on 11/09/2016 Resistance on 11/03/2016 Support on 11/01/2016 Resistance on 09/26/2016 Resistance on 09/23/2016 Resistance on 09/22/2016 Support on 09/08/2016 Resistance on 09/05/2016 Resistance on 08/15/2016 Resistance on 07/21/2016 Support on 07/06/2016 Support on 06/27/2016 Support on 06/17/2016 Support on 06/16/2016 Resistance on 05/09/2016 Resistance on 05/05/2016 Resistance on 05/02/2016 Resistance on 04/28/2016 Support on 11/03/2015 Support on 10/19/2015 Support on 10/15/2015 Support on 10/14/2015 Support on 10/06/2015 Resistance on 10/01/2015 Resistance on 09/25/2015 Resistance on 09/11/2015 Resistance on 09/10/2015 Resistance on 09/09/2015 Resistance on 09/08/2015 Resistance on 09/07/2015 Resistance on 09/02/2015 Resistance on 08/28/2015 Support on 08/02/2015 Support on 01/22/2015 Support on 01/21/2015 Support on 01/20/2015 Support on 01/16/2015 Resistance on 01/13/2015 43.75 Resistance on 09/01/2020 Resistance on 08/31/2020 Resistance on 08/27/2020 Resistance on 08/26/2020 Peak on 08/26/2020 Resistance on 08/25/2020 Resistance on 08/05/2020 Support on 02/28/2020 Support on 07/10/2017 Support on 07/07/2017 Support on 06/28/2017 Resistance on 06/26/2017 Resistance on 06/21/2017 Support on 11/14/2016 Support on 11/11/2016 Support on 11/09/2016 Support on 09/19/2016 Support on 09/16/2016 Support on 09/15/2016 Support on 09/02/2016 Support on 09/01/2016 Resistance on 08/10/2016 Resistance on 08/09/2016 Resistance on 08/08/2016 Support on 07/22/2016 Support on 05/06/2016 Support on 05/04/2016 Support on 05/03/2016 Resistance on 11/26/2015 Resistance on 11/25/2015 Resistance on 11/24/2015 Support on 11/11/2015 Support on 10/26/2015 Support on 09/24/2015 Support on 09/10/2015 Support on 09/02/2015 Click on the level to view price action history.

Symbol	Released	Current	Forecast
West Texas Intermediate Oil (WTI)	Sun, 14 Apr 2024
West Texas Intermediate Oil (WTI)	Sat, 6 Apr 2024
West Texas Intermediate Oil (WTI)	Sat, 30 Mar 2024
West Texas Intermediate Oil (WTI)	Sat, 23 Mar 2024
West Texas Intermediate Oil (WTI)	Sat, 16 Mar 2024