Crude oil Weekly Forecast

This/Next Week Forecast (April 5 – 9, 2021)

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 62.2, which will be followed by moving up to resistance level 65.65.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 62.27, which will be followed by reaching support level 57.50.

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, April 2021

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 62.27, which will be followed by moving up to resistance level 65.65.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 62.27, which will be followed by reaching support level 57.50 and if it keeps on moving down below that level, we may expect the market to reach support level 52.65.

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

previous month forecast

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