Crude Oil (WTI) price forecast and long term prediction (2020)

In this article we make a Crude Oil price forecast and longterm prediction. We would like to give an assessment of the future price development of the Light Crude Oil Futures (WT). We look at all important time frames like the daily, weekly and monthly chart, but also the long term charts for Crude Oil, which are the quarterly and yearly charts with logarithmic scale. The basis of our analysis is Price Action and Technical Chart Analysis.

The charts used are from TradingView and the prices are from the Gold Futures traded at NYMEX.

Crude Oil (WTI) Price Forecast: Daily Chart

Last update: September 20, 2020

The Crude Oil price on the daily chart shows a trading range for last several weekly. Currently we see a test of 1990 high at $41.15.

Crude Oil price forecast daily chart
Crude Oil price forecast: Strong resistance around the 1990 high (Chart: TradingView)

Resistance:  $42.36 | $43.78 |$65.65
Support: $41.15 | $36.13 | $33.55

Crude Oil price forecast: We expect to see weaker prices as long as the strong resistance zone around 42.36 holds. Prices above 42.50 could lead to more strength and price advance until $50.00. Prices below $40 could lead to more weakness and downside potential to the 2009 low at 33.55.

Crude Oil (WTI) Price Forecast: Weekly Chart

Last update: September 20, 2020

The Crude Oil price on the weekly chart shows a trading range for last several weekly. Currently we see a test of 1990 high at $41.15 and 2018 low at 42.26.

Crude Oil price forecast weekly chart
Crude Oil price forecast: Strong resistance around 2019 low (Chart: TradingView)

Resistance:  $42.36 | $43.78 | $65.65
Support: $41.15 | $36.13 | $33.55

Crude Oil price forecast: We expect to see weaker prices as long as the strong resistance zone around 42.36 holds. Prices above 42.50 could lead to more strength and price advance until $50.00. Prices below $40 could lead to more weakness and downside potential to the 2009 low at 33.55.

Crude Oil (WTI) Price Forecast: Monthly Chart

Last update: September 20, 2020

The Crude Oil price on the monthly chart shows an established downtrend. Currently we see a test of 1990 high at $41.32 and 2018 low at 42.26

Crude Oil price forecast monthly chart
Crude Oil price forecast: Strong resistance around 2019 low (Chart: TradingView)

Resistance: $42.36 | $65.65
Support: $41.15 | $33.55

Crude Oil price forecast: We expect to see weaker prices as long as the strong resistance zone around 42.36 holds. Prices above 42.50 could lead to more strength and price advance until $50.00. Prices below $40 could lead to more weakness and downside potential to the 2009 low at 33.55.

Crude Oil (WTI) Price Outlook: Quarterly Chart

Last update: September 20, 2020

The Crude Oil price on the quarterly chart shows an established downtrend. Currently we see a test of 1990 high at $41.32.

Crude Oil (WT)) price outlook quarterly chart
Crude Oil price predictions: Trading Range above 1990 high (Chart: TradingView)

Resistance: $42.36 | $65.65
Support: $41.15 | $33.55

Crude Oil price outlook: We expect to see a continuation of trendless price action between $40 and $65. Prices below $40 could lead to more weakness and downside potential to the 2009 low at 33.55.

Crude Oil (WTI) Price Predictions: Yearly Chart

Last update: September 20, 2020

The Crude Oil price on the yearly chart shows a trading range or sideways price action for the last six years. The panic low in 2020 was at -40.32 as a reaction to corona crash.

Crude Oil (WT)) price predictions yearly chart
Crude Oil price predictions: Trading Range above 1990 high (Chart: TradingView)

Resistance: $65.65
Support: $41.15

Crude Oil price predictions: We expect to see a continuation of trendless price action between $40 and $65. Prices below $40 could lead to more weakness and downside potential to the 2009 low at 33.55.

What is the current price of Crude Oil (WTI) Futures ?

The current price of Crude Oil (WTI) Futures you can see here.

*This price prediction is based on the data collected from various sources. This should not be considered as an investing parameter and user should do their own research before investing.

Do you think our predictions are accurate? What are your thoughts on the methods used to reach our conclusions? Let us know in the comments below.

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