Brent oil price forms negative pattern – Analysis - 16-06-2022
Economies.com
2022-06-16 04:19AM UTC
Brent oil price shows more bearish bias, and it approached our main waited negative target at 115.10, and by taking a deeper look at the chart, we find that the price formed double top pattern that supports the chances of surpassing the mentioned level and achieve more expected decline on the intraday basis, targeting 110.10 areas as a next main station.
Therefore, we expect to witness more bearish bias in the upcoming period unless the price rallied to breach 119.25 followed by 121.30 levels and hold above them.
The expected trading range for today is between 114.50 support and 119.50 resistance.
The expected trend for today: Bearish
Commodities News
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
Oil prices try to recover from seven-week lows
2024-05-02 13:05PM UTC
Global oil prices rose in European trade on Thursday for the first time in five sessions away from ...
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities Technical Analysis
Commodities
Platinum price moves slowly – Forecast today – 3-5-2024
2024-05-03 07:02AM UTC
Scenarios Scenario 1: Slow Positive Attempts Despite positive factors, platinum price sees slow ...
Commodities
Copper price under the negative pressure – Forecast today – 3-5-2024
2024-05-03 07:00AM UTC
Scenarios Scenario 1: Continuous Negative Pressure Copper price affected by stochastic exit ...
Commodities
Wheat price is recovering – Forecast today - 03-05-2024
2024-05-03 03:37AM UTC
Wheat Price Analysis Wheat price bounced clearly upwards after the 597.10$ level formed solid ...