Crude oil Weekly Forecast

This/Next Week Forecast (March 22 – 26, 2021)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 58.60, which will be followed by reaching resistance level 64 and if it keeps on moving up above that level, we may expect the market to reach resistance level 68.
Downtrend scenario
An downtrend will start or from resistance 64, or as soon, as the market drops below support level 58.60, which will be followed by moving down to support level 52.65.

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

previous week forecast

Fundamental Analysis

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

Chart Crude Oil Storage, Inventory

Monthly Forecast, March 2021

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 57.40, which will be followed by reaching resistance level 64.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 57.40, which will be followed by moving down to support level 52.

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

previous month forecast

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