Crude oil keeps its negative stability – Analysis - 22-02-2018
Crude oil price managed to close yesterday’s trading below 61.40 level after the positive attempts that it witnessed in the previous sessions, which keeps the bearish trend scenario active until now, supported by the negative pressure formed by the EMA50, besides the negative overlapping signal provided now by stochastic.
Therefore, we are waiting for more decline today, reminding you that the waited targets begin at 60.14 and extend to 58.60 after breaking the previous level, while breaching 61.40 and holding above it represents positive key that will push the price to start recovery attempts and regain the main bullish trend again.
Expected trading range for today is between 59.50 support and 62.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities
Gold under pressure ahead of US jobs data
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...