Crude oil Tuesday Forecast

Tuesday Forecast

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 52.58, which will be followed by moving up to resistance level 53.50 – 53.90.
Downtrend scenario
The downtrend may be expected to continue in case the market drops below support level 52.27, which will be followed by reaching support level 51.46.

Chart Crude oil Forecast 2020, Long-term Outlook, Technical Analysis

This/Next Week Forecast (January 18 – 22, 2021)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 53,50, which will be followed by reaching resistance level 57.40.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 53,50, which will be followed by reaching support level 49.50 and if it keeps on moving down below that level, we may expect the market to reach support level 43.00.

Chart Crude oil Forecast 2020, Long-term Outlook, Technical Analysis

previous week forecast

Fundamental Analysis

Difference between supply and demand shows fair price between the levels $53.

Chart Crude Oil Storage, Inventory

Monthly Forecast, January 2021

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 43.00, which will be followed by reaching resistance level 53.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 43.00, which will be followed by moving down to support level 36.10 – 33.60.

Chart Crude oil Forecast 2020, Long-term Outlook, Technical Analysis

previous month forecast

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