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FX.co ★ Oil Forecast for March 19, 2025

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Forex Analysis:::2025-03-19T03:05:05

Oil Forecast for March 19, 2025

Yesterday, oil prices demonstrated significant volatility, with a sharp decline from the resistance level of 68.69, dropping below the support level of 66.77. This trend suggests further price declines, targeting the next level at 65.27.

Oil Forecast for March 19, 2025

If prices break below this support, it could lead to further declines toward 63.69, which was the low in April 2023. The Marlin oscillator is already showing early signs of a downward reversal without having tested the zero line.

Oil Forecast for March 19, 2025

On the H4 chart, the MACD line at 66.37 serves as a support level and acts as an obstacle to further price declines. This level corresponds with the low recorded on March 13. A breakout below this point would establish a first target at 65.27.

Analyst InstaForex
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