Brent oil price achieves the first target – Analysis - 10-01-2019

Economies.com
2019-01-10 04:58AM UTC

Brent oil price succeeded to achieve our first waited target at 61.20 and shows some bearish bias from there, as it touched the intraday bullish channel’s resistance that appears on the chart, which supports the chances of continuing the bullish wave in the upcoming period, as our next target is located at 63.95.

 

Therefore, we will continue to suggest the bullish trend conditioned by the price stability above 59.25, noting that breaking this level will push the price to test 56.91 areas before any new positive attempt.

 

Expected trading range for today is between 59.50 support and 63.00 resistance.

 

Expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold prices trade steady as dollar gains ground
2024-03-18 18:41PM UTC
Gold prices stabilize on Monday as markets await the crucial Federal Reserve’s policy meeting ...
Copper News

Commodities

Copper prices stabilize following Chinese data
2024-03-18 17:20PM UTC
Copper prices gained modest ground on Monday as markets pause to conduct proper inventory after the ...
Silver News

Commodities

Is silver trading at suitable levels for investment?
2024-03-18 11:57AM UTC
Silver prices declined in European trade on Monday off three-month highs on profit-taking as ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 19-03-2024
2024-03-19 09:29AM UTC
Brent oil price is testing the key support base at 86.74 and keeps its stability above it until ...
Oil Analysis

Commodities

Crude oil price forecast update 19-03-2024
2024-03-19 09:29AM UTC
Crude oil price shows sideways and tight trades since morning, settling near 82.60 level, thus, no ...
Silver Analysis

Commodities

Silver price forecast update 19-03-2024
2024-03-19 09:29AM UTC
Silver price trades with clear negativity to head towards potential test to 24.60 support line, and ...