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Brent oil price forms negative pattern – Analysis - 08-09-2023
Brent oil price couldn’t manage to continue the rise, noticing that the price recorded lower high as appears on the chart, to start declining and heads towards building bearish wave on the intraday basis, targeting visiting 88.20 initially, noting that breaking this level will push the price to 86.75 as a next negative target.
Therefore, we expect to witness more decline in the upcoming sessions, and breaking 89.25 will ease the mission of achieving the suggested targets, while breaching 90.85 will stop the current negative pressure and lead the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 87.80 support and 90.80 resistance.
The expected trend for today: Bearish
Crude oil price begins bearish correction – Analysis - 08-09-2023
Crude oil price confirmed breaking the intraday bullish channel’s support line, to start bearish correction for the rise measured from 77.85 to 88.18, on its way to achieve negative targets that start at 85.75 and extend to 84.25 after surpassing the previous level.
MoreSilver price faces solid support - Analysis - 08-09-2023
Silver price couldn’t manage to break 23.00 level, to consolidate above it and begins attempts to build bullish wave on the intraday basis, to head towards visiting 23.70 as a next main station.
MoreGold price is recovering – Analysis - 08-09-2023
Gold price opens today’s trading with clear positivity to exit the intraday bearish channel that confined the recent trades and heads towards achieving expected gains in the upcoming sessions, and the targets begin by surpassing 1929.00 to confirm heading towards 1945.20 as a next main station.
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