Oil Price Analysis for March 2020 | Crude & Brent Crash, What's Next?

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News of the spreading coronavirus has been affecting the markets rather severely over the past weeks and the oil chart analysis has taken a pretty nasty hit as well. In fact, the coronavirus and oil correlation has seen oil prices drop down to a 12-month low.

This makes a rather foreboding oil price forecast, at least as of now. And if the coronavirus crisis continues to worsen like this, the oil price chart analysis in March 2020 will promise to see further downward movement. Currently, the WTI crude oil price analysis is at the mark of $47.41 per barrel, after dropping 2.71% from the last closing price.

And without doubt the situation around the COVID-19 will impact growth and demand in China, which will certainly continue to reflect on the oil price in March 2020. And whether there’s still a chance for the oil price in 2020 to recover later on remains to be seen.

What did you think of our oil price technical analysis? Please let us know in the comments, and give this video a thumbs up before you go. Subscribe to the Capital.com channel for more on the latest oil price news and other trading content.

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Comments

z says:

Calm and concise delivery………much appreciated !!

M El-qawas says:

Oil will up to above 50 /55 , with the interest rate cut and corona is priced in, and a lot of establishment support. however, it is inevitable for oil to come down to 40/ 35 levels. The demand is shrinking and not coming back. Libya is like a knife over the price that could fall any time, and Iraq / Iran and Russia will be happy to sell at that level and take up any OPEC cuts. There is nowhere to go except down.

Sanzhar Jekeshov says:

Thanks for video.
But changing mic would be preferable… Cause it's hard to listen in earphones… :/

Youtube University says:

Oil is going south no matter what. Big money is going into renewables. Just ask blackrock capital. Big oil is doomed.

Kevin McMahon says:

It is the oil futures that influence the price. When a billion people, not just in China, cut back on driving ICE's then there is a glut, and the current supply loses value. OPEC may cut their production. There are also physical stockpiles in storage, that affect price also.

Les Roberts says:

It's all guess work. Tesla's new battery will hammer these prices, wait and see. Get out of fossil fuels you have been warned.

Marvin Montgomery says:

This is just another freakout over nothing the demand is still there the electric cars are not even making a dent in the Oil market

Te Ka says:

Brent oil is certainly done with falling. Dont be fooled by downtrend much. It has even brokrn 50.20 level, last support.

VikingSwed77 says:

Shame this website won't do business with Americans.

ghulam Abbass says:

its monday morning gap open gone to 43.30 ur target full filled , now against at 46.35 ,, plz let us know how u manage thats what i was asking gap opens dont let enter or leave the market thanks

Dennis Bryan says:

It’s an election year.

jabba da hutt says:

Oxy , BP, xom, n rds all have good dividends

Cloxxki says:

Surely there are better signals to trade than oil.

H. KC says:

Chinese PMI 35

Z Ed says:

How I pray that this is the apocalypse!

imran shafi says:

35 to 40 buy time

imran shafi says:

best time buy market.mid march

Another sucker says:

what about the opec meeting next Wednesday?

Hannes Johannes says:

I'm buying from 37

Sven Jorgenson says:

I believe what we are witnessing is an ABC correction going back to 2015 with the $42 low being A
and $67 being B and we are currently in the final C wave that will take WTI into possibly the #26 dollar range.

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