Crude Oil negotiates the key resistance – Analysis - 22/07/2014
Economies.com
2014-07-22 00:05AM UTC
Crude oil price’s trading settled near the critical resistance mentioned yesterday in our reports at 103.00, which represents the suggested neckline for the inverted head and shoulders pattern that appears in the image, where breaching it represents a strong positive motive that supports achieving gains reach towards 107.00.
Until now, we remain neutral until confirming the next trend by breaching the mentioned resistance or breaking 101.50 support, where breaking this level will invalidate the suggested positive formation and pushes crude oil price towards 100.00 initially.
Expected trading range for today is between 101.50 support and 104.00 resistance.
Expected trend for today: Neutral
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...
Commodities
Crude oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price shows slight negative trades ...