Crude oil price crawls towards the first target – Analysis - 18-09-2023
2023-09-18 04:02AM UTC

Crude oil price keeps rising inside the bullish channel that appears on the chart, finding solid resistance at 91.00$ barrier, waiting to get positive momentum that assist to push the price to continue the rise and head towards our first target that rises now to 92.25.


Therefore, the bullish trend scenario will remain valid and active for the upcoming period, and breaching the targeted level will extend the bullish wave to 93.00 direct, noting that breaking 90.20 will stop the bullish trend and push the price to start bearish correction on the intraday basis.


The expected trading range for today is between 89.80 support and 92.80 resistance.


The expected trend for today: Bullish

Commodities News

Oil News


US crude climbs above $80 a barrel, while Brent rushes to seven-week high
2024-06-18 14:28PM UTC
Global oil prices rose in American trade on Tuesday for the third straight session, with US crude ...
Gold News


Gold declines despite mounting pressures on US dollar
2024-06-17 19:40PM UTC
Gold prices fell on Monday even as the dollar lost ground against most major rivals, as markets ...
Palladium News


Palladium driven lower by dollar's strength
2024-06-14 15:05PM UTC
Palladium prices fell on Friday as the dollar muscled up against most major rivals, and amid ...

Commodities Technical Analysis

Brent oil Analysis


Brent oil price forecast update 18-06-2024
2024-06-18 09:30AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows bearish bias now, ...
Oil Analysis


Crude oil price forecast update 18-06-2024
2024-06-18 09:30AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price is testing the key support ...
Silver Analysis


Silver price forecast update 18-06-2024
2024-06-18 09:30AM UTC
Silver Price Analysis Expected Scenario Silver price resumes its negative trading to ...