Naphtha Price Analysis

date: 6 February 2021

Naphtha was able to offset its decline this week that happened in pervious week due to decrease oil prices. It has reached a critical resistance level. If Naphtha can break the significant resistance of $ 530, it can grow to its previous level that’s mean $ 577.

Regarding to the increase in oil prices, which has reached the range of $ 58, as well as the decrease in oil production by OPEC, the perspective of rising prices in the short term can be considered.