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Brent oil attempts positively – Analysis - 19-07-2018
Brent oil price traded with clear positivity yesterday to breach 72.45 level, but its still below the most important resistance at 74.00, noticing that stochastic shows clear overbought signals, to form negative factor that we are waiting to assist to push the price to decline again.
Therefore, we will continue to suggest the bearish trend for today conditioned by the price stability below 74.00, reminding you that our next main target is located at 70.00.
Expected trading range for today is between 71.00 support and 74.00 resistance.
Expected trend for today: Bearish
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Crude oil loses momentum – Analysis - 19-07-2018
Crude oil price keeps rising to approach the key resistance 69.44, accompanied by witnessing big overbought signals by stochastic, while the EMA50 forms negative pressure against the price.
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Silver price hovers around 15.49 level, and it needs to get a daily close below this level to confirm the continuation of the bearish trend, reminding you that we are waiting to target 15.15 followed by 14.77 levels as next main stations.
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