Crude oil price attempts to recover – Analysis - 03-08-2022
Economies.com
2022-08-03 03:54AM UTC
Crude oil price traded with clear positivity yesterday to breach the bearish channel’s resistance and reach the EMA50, which forms solid resistance that forced the price to decline again, which makes us suggest resuming the negative trades and attempts to return to the main bearish channel again, to head towards achieving negative targets that reach 89.60.
Therefore, the bearish bias will be suggested for today, noting that breaching 94.50 followed by 95.50 levels will stop the negative scenario and lead the price to achieve additional gains that reach 98.25.
The expected trading range for today is between 89.60 support and 95.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities
Palladium tumbles below $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Brent Oil Price Analysis Key Points: Brent oil price has resumed positive trading, finding ...
Commodities
Crude oil price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Crude Oil Price Analysis Key Points: Crude oil price is currently testing the key ...
Commodities
Silver price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Silver Price Analysis Key Points: Silver price is currently trading positively, influenced ...