Brent oil price declined strongly yesterday to reach 61.60 level, and bounced bullishly to settle around 62.95 again, noticing that the price closed the daily candlestick below this level, to keep the chances valid to continue the expected bearish trend for the upcoming period, which gets continuous support by the EMA50.

Our waited targets begin at 60.30 and extend to 57.75, while achieving them requires holding below 62.95 and the most important below 63.85.

The expected trading range for today is between 61.30 support and 64.00 resistance.

The expected trend for today: Bearish

Previous Analysis

Next Analysis

Main

Forex

Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.2136	-0.0037	0.3040%
The EURUSD awaits the breach – Analysis - 12-05-2021
	GBP/USD	1.4117	-0.0019	0.1376%

	Tadawul	10322.68	86.96	0.85%

	Silver	27.385	-0.419	1.509%

	Oil	65.332	-0.060	0.092%
Crude oil price approaches the resistance – Analysis - 12-05-2021
	Brent Oil	68.55	0.41	0.60%

	Gold	1829.795	-14.430	0.782%
Gold price keeps its positive stability – Analysis - 12-05-2021

Live Forex Updates

Dollar pauses following Fed officials' comments

2021-05-11 19:33:41 GMT

Dollar falls near 3-month low

2021-05-11 12:13:08 GMT

Silver Castle Joins TASE Following Its Merger With Publicly Traded ICB

2021-05-10 22:52:22 GMT

Dollar holds after cyberattack on US fuel pipeline

2021-05-10 19:34:13 GMT

Risk Disclaimer: Economies.com is a financial portal that provides news and analysis about the different financial markets. The articles that we serve on the portal depend solely on the opinion and analysis of our economists which in no way are intended to incite a visitor of the website or an investor to trade or sell/buy a certain instrument. It is the responsibility of the visitor / trader only to evaluate his trading strategies and whether he is capable of trading with taking into consideration that losing all the capital invested is a possibility. The visitor should seek an independent professional financial advisor to discuss his or her trading strategies. Moreover, the provided rates for the different instruments are indicative only and cannot be used for trading purposes. Therefore, no responsibility can be imposed on Economies.com and the company operating the portal for any loss of money that may occur to the visitor by using the website.