Crude Oil Price Analysis

date: 17 December 2020

Crude oil price after reaching to its 34 years supporting level (first of 1986, 10USD/barrel) increased 4 times and reached to its resistance range. If crude oil price exceeds 50 USD/barrel, it is expected to exceed 60USD/barrel. In case, the price reaches 60USD/ barrel, expected midterm and long-term price are 78 USD/barrel and 100 USD/barrel relatively.