Brent oil price approaches the target – Analysis - 07-12-2018
Economies.com
2018-12-07 04:43AM UTC
Brent oil price provided strong negative trades yesterday and approached our main waited target at 57.77, noticing the price bullish rebound to test 60.00 barrier, while it starts today with bearish bias that hints resuming the negative trades in the upcoming sessions.
Therefore, the bearish trend scenario will remain dominant for today unless breaching 61.80 level and holding above it, noting that the next target reaches 56.91.
Expected trading range for today is between 57.50 support and 61.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities
Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...