Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (7th  - 11th July 2025)

Crude prices gained as tensions in the Middle East, especially around Iran’s nuclear talks, kept geopolitical risk premiums alive. Meanwhile, U.S. rig counts declined for the 10th straight week, offsetting bearish sentiment tied to a potential OPEC+ output boost in August.

After a steep decline at the end of June, WTI Crude oil spot has held its breath and found support over $64.03, rebounded marginally this past week and settled at $66.47 / barrel.

MCX Crude oil July contract has formed Inside bar formation on Daily chart and sustained over 50-DMA level placed at 5658. At the beginning of the week, price has traded back & forth around 5600 level however, it has succeed to breakthrough upside hurdles and closed past week on positive note at 5690, with mild incline of +1.43%.

Immediate hurdle would be at 200-DEMA level placed at 5853, breakout of this level will accelerate upside momentum in Crude price in upcoming week. Daily SAR is placed at 6292. RSI levels remained below 50 level in Daily as well as Weekly chart which signifies neutral bias in price. At downside, key support would be at 5512.

We expect that Crude oil price may trade with Moderately Bullish trend and traders may look forward for Buy-on-dips opportunity in Crude oil in upcoming week.

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Prediction given by Technical Research Team - Choice.