Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (26th - 30th May 2025)

Crude oil ended slightly lower this week, weighed down by rising U.S. inventories and OPEC+’s potential output hike, which raised oversupply concerns. While a softer dollar cushioned the fall, setbacks in U.S.-Iran nuclear talks and hopes of a U.S.-China trade breakthrough kept the market cautiously balanced between bearish fundamentals and bullish sentiment.

WTI Crude oil future has traded back & forth over the course of past week, formed a Doji candle on Weekly chart, suggesting indecision among traders, closed at $61.69 / barrel.

MCX Crude oil future has taken a pullback in past week from the support over 5149, however still remains below Bearish trendline. Price has continued to trade below all key moving averages i.e. 50, 100 and 200-DMA levels placed at 5441, 5666 and 5901 respectively. Daily SAR is placed at 4934, breakout of this level will accelerate downward momentum in Crude oil. Looking at OI, we can observe a significant rise in OI levels to 11,650 lots in recent price decline, suggesting weakness in Crude price. RSI levels remained declining below 50 level on Daily chart. Also, we can observe a convergence on Daily MACD alongside declining positive histograms.

Outlook:
We are expecting a moderately bearish trend in Crude oil price in upcoming sessions and traders may look for Sell-on-rise opportunity in next week.

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Prediction given by Technical Research Team - Choice.