Crude oil loses momentum – Analysis - 22-10-2018
Economies.com
2018-10-22 04:30AM UTC
Crude oil price settled above 69.19, but we notice that stochastic shows overbought signals now, while the EMA50 forms negative pressure against the price.
Therefore, we believe that chances are valid to resume the bearish trend in the upcoming sessions, which its targets begin by breaking 69.19 to confirm extending the bearish wave towards 66.85, taking into consideration that breaching 70.66 will stop the negative scenario and lead the price to regain the main bullish trend again.
Expected trading range for today is between 67.50 support and 70.66 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
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
2024-05-03 08:37AM UTC
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
2024-05-02 18:30PM UTC
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
2024-05-03 13:54PM UTC
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
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...