Crude oil Weekly Forecast

This/Next Week Forecast (January 25 – 29, 2021)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 51.75, which will be followed by reaching resistance level 53.50 and if it keeps on moving up above that level, we may expect the market to reach resistance level 57.40.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 51.75, which will be followed by moving down to support level 48.15.

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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