Brent oil price attempts to recover – Analysis - 02-02-2023

Economies.com
2023-02-02 05:15AM UTC

Brent oil price’s sharp decline stopped at 82.30 level, starting today positively in attempt to cover some of the losses that it suffered in the previous sessions, targeting visiting 85.10 level mainly.

 

Therefore, we expect to witness positive trades today, supported by the positive overlapping signal that stochastic begins to provide now, noting that the consolidation of 83.65 level against the current bullish bias will stop the suggested positive scenario and press on the price to resume the negative trades.

 

The expected trading range for today is between 82.50 support and 85.50 resistance.

 

The expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Gold News

Commodities

Gold returns higher towards $2400
2024-04-18 18:59PM UTC
Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting ...
Gold News

Commodities

Gold advances towards unprecedented peaks
2024-04-18 09:21AM UTC
Gold prices rose in European trade on Thursday, resuming gains and moving once again towards record ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Brent Oil Price Analysis Expected Scenario The Brent oil price bounced downwards strongly ...
Oil Analysis

Commodities

Crude oil price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price couldn’t manage to hold ...
Silver Analysis

Commodities

Silver price forecast update 19-04-2024
2024-04-19 10:43AM UTC
Silver Price Analysis Expected Scenario Silver price returns to test the key support at ...