Crude oil price below the broken support – Analysis - 25-01-2021
Economies.com
2021-01-25 02:25AM UTC
Crude oil price settles below the previously broken bullish channel’s support, and making attempts to break the critical support at 51.70, waiting for aconfirmed break to open the way towards 49.70 as a next negative target.
Therefore, we will keep our bearish trend expectations, supported by the negative pressure that comes from the EMA50, taking into consideration that the continuation of the bearish wave depends on the stability below 53.05 level.
The expected trading range for today is between 51.70 support and 53.50 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 $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Wheat price keeps its positive stability – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Wheat Price Analysis Wheat price provided clear positive trades in the previous sessions to ...
Commodities
Corn price tests the support base – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Corn Price Analysis Corn price is testing 449.20$ level and keeps its stability above it, ...
Commodities
Brent oil price begins negatively – Forecast today - 29-04-2024
2024-04-29 03:32AM UTC
Brent Oil Price Analysis Brent oil price rebounds bearishly after testing 89.50$ level, to head ...