Crude Oil And Natural Gas Weekly Forecasts For Oct. 12 - 16

Crude Oil Forecast for the Upcoming Week

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 41.65, which will be followed by moving up to resistance level 43.75.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 41.65, which will be followed by reaching support level 38.70 and if it keeps on moving down below that level, we may expect the market to reach support level 36.60.

previous week crude oil forecast chart

Fundamental Analysis

Difference between supply and demand showing fair price between the levels 45 - 52.

Long-term Crude Oil Forecast (Quarter III: July - September, 2020)

Uptrend scenario
An uptrend will start as soon, as the pair rises above resistance level 41.05, which will be followed by moving up to resistance level 50.50.
Downtrend scenario
The downtrend may be expected to continue, while pair is trading below resistance level 41.05, which will be followed by reaching support level 34.35 and if it keeps on moving down below that level, we may expect the pair to reach support level 26.00 - 21.42.

 

Natural Gas Upcoming Week Forecast (Oct. 12 - 16, 2020)

Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 2.920, which will be followed by reaching resistance level 3.200.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2.700, which will be followed by moving down to support level 2.450 and if it keeps on moving down below that level, we may expect the market to reach support level 2.160.

previous week natural gas forecast chart

Fundamental Analysis - Natural Gas

Difference between supply and demand showing fair price on the level 2.7.

Natural Gas Long-Term Forecast (Quarter III: July - September, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 2.160, which will be followed by reaching resistance level 2.700.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2.160, which will be followed by moving down to support level 1.640.