Thursday Forecast

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.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 40.50, which will be followed by moving down to support level 39.

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Previous day forecast

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This/Next Week Forecast (October 12 - 16, 2020)

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 the 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.

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Previous week crude oil forecast chart

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Fundamental Analysis

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

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Long-term 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.

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