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Brent Crude Oil Price Poised for Further Gains – Today's Forecast – 18-03-2025

Economies.com
2025-03-18 05:34AM UTC
  • Brent crude oil has advanced slightly in its intraday trading as it positions itself to attack the key resistance level at $71.35. This comes amid an upward corrective trend in intraday levels and trading along a trendline. The price is also supported by continued positive momentum from trading above its 50-day simple moving average.

  • Moreover, the price rose after successfully offloading its overbought condition, as indicated by the RSI in previous sessions.

  • We expect Brent crude oil to gain further in the upcoming sessions, particularly if it manages to break the resistance at $71.35. Following a successful breakout, the next target is the resistance level at $73.60. This bullish outlook holds as long as the support at $70.00 remains intact.

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    Ethereum (ETHUSD) Succumbs to Bearish Pressure – Today's Forecast – 18-03-2025

    Economies.com
    2025-03-18 05:33AM UTC
    • Ethereum (ETHUSD) retreated in its recent intraday sessions after hitting a key downward trendline on the short-term chart.
    • It also touched the resistance provided by its 50-day simple moving average, intensifying the bearish pressure that forced the decline.
    • A negative RSI crossover has begun to emerge after the indicator reached overbought territory.
    • We expect further declines in Ethereum's price in upcoming sessions, as long as the resistance at $1,960.00 remains intact.
    • The price is likely to target the key support level at $1,820.00.

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    Bitcoin (BTCUSD) Caught Between a Hammer and an Anvil – Today's Forecast – 18-03-2025

    Economies.com
    2025-03-18 05:31AM UTC
    • Bitcoin (BTCUSD) declined in its recent intraday sessions, due to the steadfast key resistance at $84,520.
    • This occurred amid the dominance of a short-term bearish trend, with the price trading along a trendline, and the emergence of a negative RSI crossover after reaching excessively overbought levels compared to the price action.
    • The price is nearing support provided by its 50-day simple moving average.
    • It is also finding support from a bearish technical formation—a rising wedge—poised for a breakdown.
    • We expect Bitcoin's price to decline in the upcoming sessions, as long as the resistance at $84,520 holds, targeting the key support level at $80,000.

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    Oil Price Breaks Downward Trendline – Today's Forecast – 18-03-2025

    Economies.com
    2025-03-18 05:30AM UTC

    The price of crude oil has risen in recent intraday trading, confirming the break of a short-term downward sub-trendline.

    This move is supported by its continuous trading above its 50-day simple moving average.

    Additionally, it is trading along an upward corrective trendline, with the onset of a positive RSI crossover after the indicator reached significantly exaggerated oversold levels relative to the price movement.

    Our forecast indicates further corrective upward movement for oil in the upcoming sessions, especially if it manages to break the resistance at $67.95.

    Such a breakthrough would confirm the bullish double bottom pattern, with the price then targeting the resistance level at $70.00 as the next price target.

    To get our more detailed analysis and 100% accurate signals provided by Best Trading Signal, subscribe to Economies.com VIP Club through the link below!

    Frequently asked questions

    What is the price of Brent Oil today?

    The price of Brent Oil is $69.02 (2025-07-03 12:06PM UTC)