Brent oil price tests the resistance again – Analysis - 08-11-2019
Economies.com
2019-11-08 05:38AM UTC
Brent oil price tested 62.50 and bounced bearishly again, to keep the bearish trend valid and active in the upcoming period, supported by the negative overlapping signal provided by stochastic, waiting to surpass the EMA50 that forms intraday support barrier now at 61.30 to ease the mission of heading towards our main expected target at 59.60.
We remind you that the continuation of the expected bearish trend depends on the stability of the daily close below 62.50.
The expected trading range for today is between 59.60 support and 62.50 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Coffee price collapses – Forecast today – 7-5-2024
2024-05-07 05:38AM UTC
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
2024-05-07 05:37AM UTC
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...
Commodities
Platinum price leans above the moving average – Forecast today – 7-5-2024
2024-05-07 05:31AM UTC
Expected Scenarios and Trading Range Scenario 1: Positive Stability Platinum price maintains ...