Brent oil price loses momentum – Analysis - 17-10-2018
Economies.com
2018-10-17 04:45AM UTC
Brent oil price provided positive trades yesterday to approach the EMA50 that forms good intraday resistance against the price, accompanied by stochastic reach to the overbought areas, which makes us believe that the chances are valid to rebound bearishly and resume the bearish trend in the upcoming sessions, waiting to break 80.43 level to confirm rallying towards 78.49 as a next station.
We should note that breaching 82.83 will stop the expected decline and lead the price to regain the main bullish trend again.
Expected trading range for today is between 79.50 support and 82.50 resistance.
Expected trend for today: Bearish
Commodities News
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
Oil prices extend losses, with Brent plumbing five-week lows
2024-04-30 14:59PM UTC
Oil prices fell in American trade on Tuesday, extending losses for the third straight session, with ...
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities Technical Analysis
Commodities
Oil price will reach $100 in 2024? Expert analysis and which are the best brokers for trading it
2024-05-01 11:23AM UTC
Technical Forecasts for Oil Prices The Best 2 Oil Trading Brokers for This Year The ...
Commodities
Brent oil price forecast update 01-05-2024
2024-05-01 10:07AM UTC
Brent Oil Price Analysis: Expected Scenarios Brent oil price resumes its negative trading to ...
Commodities
Silver price forecast update 01-05-2024
2024-05-01 10:07AM UTC
Silver Price Analysis: Expected Scenarios Silver price settles below the broken neckline of the ...