Brent oil price reaches the first target – Analysis - 21-09-2023

Economies.com
2023-09-21 03:45AM UTC

Brent oil price bounced bearishly after the rise that it witnessed on yesterday’s evening, to reach 92.74 level now, and we suggest surpassing this level to extend the correctional bearish wave towards 90.70 areas on the near-term basis.

 

Therefore, the bearish trend scenario will remain valid and active for the upcoming period, and the price needs to hold below 93.85 to guarantee the continuation of the expected decline, as breaching it represents positive factor that will push the price to attempt to regain the main bullish trend again.

 

Advertistment

The expected trading range for today is between 91.00 support and 94.00 resistance.

 

The expected trend for today: Bearish

Commodities News

Palladium News

Commodities

Palladium sharpens decline to below $1000 an ounce
2023-12-08 16:57PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to ...
Gold News

Commodities

Gold edges up ahead of US jobs data
2023-12-08 08:12AM UTC
Gold prices rose in European trade on Friday for the third straight session ahead of US monthly ...
Oil News

Commodities

Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...

Commodities Technical Analysis

Gold Analysis

Commodities

Evening update for Gold 08-12-2023
2023-12-08 15:05PM UTC
Gold price broke the bullish channel’s support line clearly and closed the last four ...
Brent oil Analysis

Commodities

Midday update for Brent oil 08-12-2023
2023-12-08 10:36AM UTC
Brent oil price attempted to breach 75.60 level but it returned to fluctuate below it again, which ...
Oil Analysis

Commodities

Midday update for Crude oil 08-12-2023
2023-12-08 10:36AM UTC
Crude oil price traded with additional positivity to attack 70.50 level but it returned to trade ...