Crude oil resumes the bullish rally – Analysis - 22-05-2018
Economies.com
2018-05-22 01:12AM UTC
Crude oil price managed to end yesterday’s trading above 72.25, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, which gets continuous positive support by the EMA50, paving the way to head towards our next main targets that begin at 74.65 and reach 76.20 after surpassing the previous level.
Therefore, we will keep our bullish overview for the upcoming period unless breaking 71.60 level and holding below it, as breaking this level might push the price to test 70.70 areas before any new attempt to rise.
Expected trading range for today is between 71.00 support and 74.65 resistance.
Expected trend for today: Bullish
Commodities News
Commodities
Palladium regains footing but remains below $1000
2024-05-10 14:55PM UTC
Palladium prices rose on Friday even as the dollar inched higher against major rivals, however, the ...
Commodities
Silver prices rush to three-week highs as US yields taper off
2024-05-10 11:46AM UTC
Silver prices rose in European trade on Friday on track for the third straight profit, scaling a ...
Commodities
Gold reverses higher as dollar dips after weak data
2024-05-09 19:44PM UTC
Gold prices rose on Thursday as the dollar index declined against most major rivals following ...
Commodities Technical Analysis
Commodities
End of day crude oil price forecast update - 10-05-2024
2024-05-10 17:33PM UTC
Crude oil price trades with strong negativity to approach our waited target at 77.64$, to support ...
Commodities
Brent oil price forecast update 10-05-2024
2024-05-10 10:26AM UTC
Expected Trading Scenarios Brent oil price trades negatively now in attempt to resume the ...
Commodities
Crude oil price forecast update 10-05-2024
2024-05-10 10:26AM UTC
Expected Trading Scenarios Crude oil price shows negative trades to attempt to return below ...