Friday, March 12, 2021

Video: Updated Crude Oil Forecast for March 2021 – Oil Rally on Economic Recovery?

In the present video, David Jones from provides his updated forecast for crude oil in March 2021. He starts the video with fundamental analysis, explaining what factors drove prices for WTI crude oil to the highest level since October 2018 and what factors will be affecting crude in the near future. Next, David turns to technical analysis, listing the major support and resistance levels. He then shows charts and technical indicators, trying to predict where prices may go next. In the end, David decides to bet on the bullish trend to continue. He places an order to buy crude in case of a pullback to $61, placing stop-loss near the February lows at $58.

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