Crude oil is stable – Analysis - 08-11-2018

Economies.com
2018-11-08 05:08AM UTC

Crude oil price settles below 62.00 level, and it keeps moving inside the bearish channel that appears on the chart, while the EMA50 forms continuous negative pressure that supports the chances of continuing the bearish trend in the upcoming period.

 

Therefore, we will keep our bearish overview unless breaching 62.90 level and holding above it, noting that our waited targets begin at 60.00 and extend to 58.65.

 

Expected trading range for today is between 60.00 support and 62.90 resistance.

 

Expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price faces solid support – Forecast today – 28-3-2024
2024-03-28 05:37AM UTC
Natural Gas Price Analysis and Forecast Expected Scenarios Faced solid historical support at ...
Platinum Analysis

Commodities

Platinum price repeats the positive closings – Forecast today – 28-3-2024
2024-03-28 05:34AM UTC
Platinum Price Analysis and Forecast Expected Scenarios Platinum price still holding above ...
Copper Analysis

Commodities

Copper price tends towards the positivity – Forecast today – 28-3-2024
2024-03-28 05:33AM UTC
Copper Price Analysis and Forecast Expected Scenarios Copper price ended the temporary negative ...