date: 10 March 2021
After the significant growth of oil last week and the subsequent increase in the price of petrochemical products, the price of naphtha reached the resistance range of 600$.
Naphtha has technically reached the resistance range and reacted negatively to it. If naphtha’s price falls, it could drop to 575 $, and if it falls further, it could reach 560$. But Naphtha’s price does not seem to be below 575$. From 575$ value, we will probably see an increase in price and demand, and once again the price of this product will reach above 600$.