Brent Oil needs the positive momentum – Analysis - 25-09-2017
Brent oil price resumed its positive trading to settle near 57.00$ per barrel barrier, reinforcing the expectations of continuing the bullish trend inside the main bullish channel that appears on chart, noting that stochastic negativity interprets the reasons of the current sideways fluctuation.
In general, we will continue to suggest the bullish trend in the upcoming sessions unless breaking 55.90 level and holding below it, noting that the EMA50 keeps supporting the bullish wave that its next target located at 58.37, while breaking 55.90 represents negative factor that will push the price to visit 54.30 areas before any new attempt to rise.
Expected trading range for today is between 55.50 support and 59.00 resistance.
Expected trend for today: Bullish
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities
Gold about to trade above $2400
Gold prices rose in European trade on Thursday, extending gains for the third straight session and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Update: Gold price surpasses the first target
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
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...