Midday Update: Oil - 25-08-2016
Economies.com
2016-08-25 11:11AM UTC
Oil prices are still stuck around the crucial support of 46.60, as we alluded to in our morning analysis, which is an important key to determine the trend in the coming trading, and in case of of a breach, it will complete the Double top pattern and push the stock to negative targets that start at 45.48 and expand to 44.29, and in case of a breach of the resistance of 49.34, it will reactivate the main upward trend with a target at 51.65.
Expected trading range for today is between the support of 44.30 and the resistance of 49.34.
Expected trend for today: Depends on the levels mentioned in the analysis.
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
Update: Gold price surpasses the first target
2024-05-17 15:23PM UTC
Gold price succeeded to achieve our first target at 2400.00$ and breached it to confirm the ...
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 ...