Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (6th  - 10th October 2025)

Crude oil prices plunged last week ahead of the OPEC meeting as expectations of increased output from OPEC+ and seasonal refinery maintenance led to a sharp decline. That coupled with a build-up in US crude inventories led to a significant decline.

MCX Crude Oil October prices experienced a sharp decline of -7% over the week, falling from a high of 5903 to close at 5439, after reaching a weekly low of 5390 and finishing below all major moving averages. The weekly chart presents a dominant bearish candle, signaling negative momentum. On the short-term 4-hour timeframe, an EMA crossover has occurred, supporting the bearish structure, while the weekly 200EMA at 5330 now stands as a key support level.

US Oil similarly faced resistance at $66.42 near its 200DEMA, leading to a steep -$6 drop following a gravestone doji formation near the upper level. This resulted in a breakdown of the crucial $61.45 support and a close at $60.68, with the next support identified at $59.8.

Indicator readings from the chart reinforce the bearish sentiment: volume surged on the breakdown, and open interest decreased, suggesting short covering with OI addition around 4600 lots. RSI on the daily closed near 51, with momentum turning lower after recent rebounds, confirming sellers dominating the market.

Given this setup, traders are advised to follow a ‘sell on rise’ approach, with support zones at 5390 and 5250 and resistance at 5500 and 5600. As long as prices remain below key moving averages and confirmed by negative indicator readings, downside risks are expected to persist.

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Prediction given by Technical Research Team - Choice.