Crude Oil - Wheat Forecast

(Anton Kolhanov)

Crude oil: The uptrend may be expected to continue

Thursday forecast (August 25, 2022)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 95.05, which will be followed by reaching resistance level 96.57 and if it keeps on moving up above that level, we may expect the market to reach resistance level 99.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 95.05, which will be followed by moving down to support level 92.93.

This/next week forecast (August 22 – 26, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 95.05, which will be followed by moving up to resistance level 101.88.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 95.05 – 92.93, which will be followed by reaching support level 85.41 and if it keeps on moving down below that level, we may expect the market to reach support level 77.

Previous week forecast

Monthly forecast, August 2022

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 101.53, which will be followed by moving up to resistance level 114.05.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 92.93, which will be followed by moving down to support level 85.41 and 76.98.

Wheat: An uptrend will start as soon, as the market rises above resistance level 820.75

Thursday forecast (August 25, 2022)

Uptrend scenario

An uptrend will start as soon, as the market rises above resistance level 820.75, which will be followed by moving up to resistance level 845.75.

Downtrend scenario

The downtrend may be expected to continue, while market is trading below resistance level 820.75, which will be followed by reaching support level 792.25 and if it keeps on moving down below that level, we may expect the market to reach support level 752.

Previous week forecast

This/next week forecast (August 22 – 26, 2022)

Uptrend scenario

The uptrend may be expected to continue, while market is trading above support level 752, which will be followed by reaching resistance level 778 and if it keeps on moving up above that level, we may expect the market to reach resistance level 820.