Brent oil price achieves intraday gains – Analysis - 27-06-2022
Brent oil price traded with clear positivity in the previous sessions to test 110.10 and settles there, noticing that the price attempts to breach this level, while it faces strong negative factors formed by the EMA50 and stochastic.
Threefore, the price is facing contradiction between the technical factors that makes us prefer to stay aside until the price confirms its situation according to 110.10 level, noting that breaching it will lead the price to achieve additional gains that start at 112.20 and extend to 115.10, while consolidating below it will press on the price to rebound bearishly and head towards 105.05 as a next main target.
The expected trading range for today is between 106.50 support and 112.20 resistance.
The expected trend for today: Neutral
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Coffee price collapses – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...
Commodities
Platinum price leans above the moving average – Forecast today – 7-5-2024
Expected Scenarios and Trading Range Scenario 1: Positive Stability Platinum price maintains ...