Midday update for Brent oil 24-01-2023

Economies.com
2023-01-24 09:56AM UTC

Brent oil price trades negatively to move below 88.20, which might push the price to test the bullish channel’s support line around 86.40 before any new attempt to rise.

 

Now, we prefer to stay aside until we get clearer signal for the next trend through breaching one of the mentioned levels, noting that breaching 88.20 resistance will lead the price to resume the bullish wave that its next target located at 90.35. while breaking the support will push the price to suffer additional losses that reach 85.10.

 

The expected trading range for today is between 86.50 support and 89.00 resistance.

 

The expected trend for today: Neutral

Commodities News

Oil News

Commodities

Oil extends gains, US crude clocks in 4.5%% weekly profit
2024-03-01 22:08PM UTC
Oil prices advanced on Friday as investors await OPEC+ decisions on supplies, expected to extend ...
Oil News

Commodities

Oil prices scale 4-month high on speculation about OPEC+ cuts
2024-03-01 13:32PM UTC
Global oil prices rose in European trade on Friday on track for the second straight session, with ...
Silver News

Commodities

Silver on track for seconc weekly loss in a row
2024-03-01 09:41AM UTC
Silver prices fell in European trade on Friday, resuming losses and approaching two-week lows, ...

Commodities Technical Analysis

Oil Analysis

Commodities

Evening update for Crude oil price 01-03-2024
2024-03-01 17:10PM UTC
Crude oil price traded with strong positivity to surpass our first waited target at 80.00 and open ...
Gold Analysis

Commodities

Evening update for Gold 01-03-2024
2024-03-01 17:10PM UTC
Gold price rallied upwards strongly to surpass our first target at 2065.70 and confirm opening the ...
Brent oil Analysis

Commodities

Midday update for Brent oil 01-03-2024
2024-03-01 10:40AM UTC
Brent oil price shows positive trades now to test the sideways range’s resistance line that ...