Brent oil price completes negative pattern – Analysis - 31-01-2023
Economies.com
2023-01-31 04:49AM UTC
Brent oil price traded with strong negativity to break 85.10 and settles below it, to complete forming double top pattern that appears on the chart, which puts the price under expected negative pressure in the upcoming sessions, on its way to visit 81.30 areas as a next main target.
Therefore, the bearish bias will be expected for today, taking into consideration that breaching 85.10 – 85.45 levels will cancel the negative effect of the mentioned pattern and lead the price to recover.
The expected trading range for today is between 82.30 support and 85.50 resistance.
The expected trend for today: Bearish
Commodities 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 ...
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 ...
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
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 ...
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 ...
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 ...