Crude Oil Price Forecast for Next Week (10th Aug - 14th Aug 2026)
| Support 2 | Support 1 | CMP | Resistance 1 | Resistance 2 |
|---|---|---|---|---|
| 6871 | 7078 | 7439 | 7793 | 8000 |
WTI crude prices declined 9% over the week as expectations of progress in U.S.-Iran talks over the Strait of Hormuz raised hopes of a deal to restore unrestricted shipping. A reopening of the waterway could bring millions of barrels of Middle Eastern crude back to global markets, increasing supply and pressuring prices. President Donald Trump said negotiations were advancing, although differences remained over conditions for reopening the strait. Meanwhile, Abu Dhabi National Oil Co. reported attacks on three vessels transiting Hormuz, highlighting continued geopolitical risks. CFTC data showed speculators cut their net-long WTI positions by 4,683 contracts to 101,824 in the week to August 4. Separately, Ukraine agreed not to target certain non-Russian-flagged tankers and Black Sea oil infrastructure linked to Kazakhstan's crude exports. Oil later recovered some losses after reports suggested the U.S. could lift its naval blockade once unrestricted commercial shipping resumes.
MCX Crude oil future has resumed on a negative note in past week at 7789 and continued its downside momentum where price has dipped around 7078, posted a weekly drop of -8.12%. However, price has rebounded from this dip and managed to settle at 7439. Here, price has closed just above 200-DEMA level placed at 7378. Immediate resistances would be at 20 and 100-DEMA level placed at 7656 and 7793 respectively. Comparing Ol level with price momentum of past week, we can observe a Short covering to 8900 lots. RSI level trailing below 50 on Daily and Weekly chart.
We are expecting Moderately Bullish trend in Crude oil price in upcoming week and traders should look for Buy-on-dips opportunity.
Related Blogs
Gold Price Forecast for Next Week: Get the latest prediction for gold prices to guide better investment decisions.
Natural Gas Price Prediction for Next Week: Explore the anticipated price range for natural gas in the upcoming week.
Silver Price Prediction for Next Week: Stay informed with next week's forecast for silver prices to track market trends effectively.
Copper Price Forecast for Next Week: Prepare for the upcoming week with valuable insights into copper price movements.
Prediction given by Technical Research Team - Choice.
Related Blog
Prism, the parent company of global travel-tech unicorn OYO, has moved closer to its proposed stock market debut after receiving clearance from the Securities and Exchange Board of India (SEBI), filing its Updated Draft Red Herring Prospectus (UDRHP), and beginning its roadshow for a proposed ₹6,650 crore initial public offering (IPO). The company, which is led by Ritesh Agarwal, has started meeting institutional investors as it prepares for its public-market debut later this year. The proposed
21 August 2026
FII DII Data Today 21th August 2026 CATEGORY DATE BUY VALUE (₹ Crores) SELL VALUE (₹ Crores) NET VALUE (₹ Crores) DII 21-Aug-2026 13,209.23 11,599.76 1,609.47 FII 21-Aug-2026 11,634.11 11,769.68 -135.57 What are FII and DII in the Stock Market Foreign Institutional Investors (FIIs) invest in the Indian stock market from international markets, while Domestic Institutional Investors (DIIs) include mutual funds and institutional bodies operating from India. fii dii data helps track
20 August 2026
Made for Traders.
Trusted by Investors.
Download FinX — trade confidently, invest
smarter, track everything.
