|
Brent oil price touches the first target – Analysis - 18-12-2019
brent oil price succeeded to reach our waited initial target at 65.40, and it found a strong resistance, to show slight bearish bias, but we wait for more of the upside moves, supported by the EMA50 to breach the mentioned level and opening the way towards achieving gains that extend to reach 68.95 on the near term basis.
therefore, we will keep our bullish trend expectations, taking into consideration that breaking 64.40 will stop the suggested rise and pushes the price to test levels that reach 62.50 before any new attempt to rise.
The expected trading range for today is between 63.50 support and 66.50 resistance.
The expected trend for today: Bullish
Thanks for your feedback.
Crude oil price achieves the target – Analysis - 18-12-2019
Crude oil price managed to achieve our waited target at 60.90, showing some of the bearish bias moves from there, in its way to test the intraday bullish channel’s support that appears in the image, where the price affected by stochastic negativity, while the EMA50 provides a continuous positive support for the price, keeping the bullish trend scenario preferred in the upcoming period.
MoreSilver price still confined – Analysis - 18-12-2019
Silver price remains confined between the critical levels that are represented by 16.96 support and 14.10 reistance, as we mentioned yesterday, the price needs to breach one of these levels to detect our next targets clearly, keeping our neutral attitude valid until now.
MoreNo new actions for Gold price – Analysis - 18-12-2019
Gold price keeps moving within tight range, therefore, the bearish trend scenario will remain valid as it is without any change, organized within the bearish correctional channel that appears in the above chart, depending on the stability below 1489.00, pointing that breaking 1461.00 will ease the mission of achieving our negative targets that begin at 1447.00 and extend to 1413.10.
More