Midday update for Brent oil 20-03-2023

Economies.com
2023-03-20 10:43AM UTC

Brent oil price broke 72.00 level strongly to reach the thresholds of the extended negative target at 70.00, and the way seems open to continue the decline and suffer additional losses that reach 68.50 as a next main station.

 

Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the EMA50 that presses negatively on the price, taking into consideration that breaching 72.00 and holding above it will push the price to attempt to rise and cover some losses that it suffered in the previous sessions.

 

The expected trading range for today is between 70.00 support and 72.00 resistance.

 

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...