Crude oil Weekly Forecast

This/Next Week Forecast (March 8 – 12, 2021)

Uptrend scenario

The uptrend may be expected to continue in case the market rises above resistance level 66.60, which will be followed by reaching resistance level 70.40.

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 63.80, which will be followed by moving down to support level 58.60.

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 $63.

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