Crude oil gets the positive momentum – Analysis - 08-03-2019
Economies.com
2019-03-08 05:12AM UTC
Crude oil price returns to test the bullish channel’s support line, accompanied by stochastic reach to the oversold areas, which forms positive motive that we are waiting to push the price to resume the main expected bullish wave for the upcoming period, which its targets begin by breaching 57.46 to confirm rallying towards 60.00 followed by 64.90 levels that represents our next main targets.
Therefore, we will continue to suggest the bullish trend for today, noting that breaking 56.00 will stop the expected rise and press on the price to test 54.50 areas before any new attempt to rise.
The expected trading range for today is between 55.00 support and 58.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Oil prices hover at three-week lows as global supply concerns fade
2024-04-23 13:04PM UTC
Global oil prices fell in European trade on Tuesday on track for the second loss, almost touching ...
Commodities
Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Commodities
Gold returns higher towards $2400
2024-04-18 18:59PM UTC
Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 23-04-2024
2024-04-23 11:07AM UTC
Brent oil price attempted to breach 87.67$ level but it returns to hold below it, to keep the ...
Commodities
Crude oil price forecast update 23-04-2024
2024-04-23 11:07AM UTC
Crude oil price provided new positive trades to reach 83.40$ areas, and bounced bearishly to ...
Commodities
Silver price forecast update 23-04-2024
2024-04-23 11:06AM UTC
Silver price shows new negative trades to attack 26.90$ and attempts to hold below it, to stop the ...