Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (30th June - 4th July 2025)

Crude oil plunged this week as geopolitical risk premiums rapidly unwound. After an initial rally on Middle East tensions, prices tumbled amid signs of de-escalation between Iran and Israel, and reduced fears of supply disruption through the Persian Gulf. The sharp reversal highlights the market’s sensitivity to geopolitical developments, with the entire war-driven spike effectively erased.

MCX Crude oil July contract has experienced immense profit-booking over the course of the week from peak level of 6550 and declined by -12.59% and closed on a negative note at 5610. Price has failed to breakthrough the hurdle of Bearish trend line in the beginning of the week and remained below all key moving averages i.e. 50, 100 and 200-DMA levels placed at 5653, 5697 and 5862 respectively. Key supports would be at 5250 – 5121.

Looking at OI, we can observe a rise in OI levels to 14050 lots in recent price-fall. The momentum indicator, RSI levels declined below 50 on Daily and Weekly chart. Also, we can observe a bearish crossover on MACD above zero-line alongside bearish histograms which collectively suggests bearish biasness in Crude price.

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Prediction given by Technical Research Team - Choice.