Brent oil price leans on the channel’s support – Analysis - 11-05-2021
Economies.com
2021-05-11 00:13AM UTC
Brent oil price touched the bullish channel’s support line that appears on the chart and bounced bullishly from there, getting continuous positive support by the EMA50, to continue suggesting the bullish trend for the upcoming period, which its next main target located at 71.35.
Holding above 67.55 is important to continue the expected rise, as breaking it will press on the price to turn to decline on the intraday basis and visit 66.10 areas initially before any new attempt to rise.
The expected trading range for today is between 67.00 support and 70.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
How did gold become a major component in Nvidia's signature GPUs?
2024-04-25 20:32PM UTC
Nvidia has witnessed one of the most stunning success stories in recent years.. But before we get ...
Commodities
Oil prices lost ground despite large US inventory drawdown
2024-04-24 20:42PM UTC
Oil prices fell on Wednesday despite earlier official data that showed a steep decline in US crude ...
Commodities
US crude stocks fall more than expected
2024-04-24 16:29PM UTC
The Energy Information Administration reported a drop of 6.4 million barrels in US crude stocks ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price keeps its stability above ...
Commodities
Crude oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price trades positively to approach ...
Commodities
Silver price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Silver Price Analysis Expected Scenario Silver price shows positive trades to hint the ...