Crude oil loses momentum – Analysis - 28-03-2017
Crude oil price shows some bullish bias since yesterday’s evening to settle at 48.00, noticing that stochastic loses its positive momentum clearly and enters the overbought levels, providing negative motive that we wait to assist to push the price to bounce lower and resuming the bearish bias again.
Therefore, we will keep preferring the bearish trend in the upcoming sessions supported by the negative pressure that comes from the EMA50, reminding you that breaking 47.00 will ease the price mission to head to the next correctional level that located at 44.10, while holding below 48.37 represents an important condition for the continuation of the expected bearish trend.
Expected trading range for today is between 46.00 support and 49.00 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Palladium regains footing but remains below $1000
Palladium prices rose on Friday even as the dollar inched higher against major rivals, however, the ...
Commodities
Silver prices rush to three-week highs as US yields taper off
Silver prices rose in European trade on Friday on track for the third straight profit, scaling a ...
Commodities
Gold reverses higher as dollar dips after weak data
Gold prices rose on Thursday as the dollar index declined against most major rivals following ...
Commodities Technical Analysis
Commodities
End of day crude oil price forecast update - 10-05-2024
Crude oil price trades with strong negativity to approach our waited target at 77.64$, to support ...
Commodities
Brent oil price forecast update 10-05-2024
Expected Trading Scenarios Brent oil price trades negatively now in attempt to resume the ...
Commodities
Crude oil price forecast update 10-05-2024
Expected Trading Scenarios Crude oil price shows negative trades to attempt to return below ...