Brent oil price presses on the support – Analysis - 16-10-2018
Economies.com
2018-10-16 04:21AM UTC
Brent oil price attempted to break 80.43 level but it could not manage to hold below it, noticing that the EMA50 keeps pressing negatively on the price, to continue suggesting the domination of the correctional bearish trend on the intraday basis, which its next target located at 78.49.
On the other hand, we should note that breaching 82.83 will release the price from the current negative pressure and lead the price to resume the main bullish trend again.
Expected trading range for today is between 79.00 support and 82.30 resistance.
Expected trend for today: Bearish
Commodities News
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
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 Technical Analysis
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:17PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the ...
Commodities
End of day gold price forecast update - 02-05-2024
2024-05-02 16:16PM UTC
Gold price continues to decline to test 2300.00$, waiting for more decline to achieve the main ...
Commodities
Brent oil price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Brent Oil Trading Report Brent oil price is testing 84.77$ level and attempts to consolidate ...