Crude oil Weekly Forecast

This/Next Week Forecast (March 29 – April 2, 2021)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 61.34, which will be followed by moving up to resistance level 63.13 and if it keeps on moving up above that level, we may expect the market to reach resistance level 65.30.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 61.34, which will be followed by reaching support level 57.40.

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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