Crude oil price begins positively – Analysis - 07-07-2022

Economies.com
1 year ago

Crude oil price opens today’s trading with clear positivity to test 97.00 barrier, and it might continue the rise to test the resistance line formed at 98.95 after breaking it previously before turning back to resume the main bearish track, as the price is affected by stochastic positivity.

 

In general, we will continue to suggest the overall bearish trend conditioned by the price stability below 98.95, organized inside the bearish channel that appears on the chart, noting that our next negative targets start at 92.80 and extend to 89.80.

 

Advertistment

The expected trading range for today is between 93.00 support and 98.95 resistance.

Open Live Trading Account

The expected trend for today: Overall bearish

Commodities News

Oil News

Commodities

Oil prices sharpen decline to two-week trough on interest rate concerns
12 hours ago
Oil prices fell in European trade on Tuesday for the second session, plumbing a two-week trough ...
Gold News

Commodities

Gold declines to two-week trough as US yields power up
18 hours ago
Gold prices fell in European trade for the second session, plumbing a two-week trough and almost ...
Gold News

Commodities

Gold declines as dollar gains ground, while US treasury yields spike
1 day ago
Gold prices fell on Monday as the dollar gained ground against most major rivals while US treasury ...

Commodities Technical Analysis

Oil Analysis

Commodities

Evening update for Crude oil price 26-09-2023
8 hours ago
Crude oil price rallied upwards strongly to breach 89.35 level and reach the most important ...
Brent oil Analysis

Commodities

Midday update for Brent oil 26-09-2023
16 hours ago
Brent oil price achieved a clear break to 92.74 level and closed the last four hours candlestick ...
Oil Analysis

Commodities

Midday update for Crude oil 26-09-2023
16 hours ago
Crude oil price achieved an initial break to 89.35 level and attempts to settle below it, which ...