Crude oil price breaks the support – Analysis - 02-12-2021
Economies.com
2021-12-02 05:26AM UTC
Crude oil price’s rise stopped near 69.50 level, to rebound downwards trongly and break 67.40 level and settles below it, opening the way to resume the bearish wave and head towards 64.30 followed by 61.85 levels as next main targets.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 67.40 will stop the current negative pressure and lead the price to start new recovery attempts.
The expected trading range for today is between 64.00 support and 67.80 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 26-04-2024
2024-04-26 11:01AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows additional positive ...
Commodities
Crude oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price keeps its stability above ...
Commodities
Silver price forecast update 26-04-2024
2024-04-26 11:00AM UTC
Silver Price Analysis Expected Scenario Silver price provides slight positive trades to ...