Crude oil price crawls towards the target – Analysis - 14-01-2020

Economies.com
2020-01-14 05:36AM UTC

Crude oil price resumed its negative trading clearly yesterday to approach our waited target at 57.40, facing negative pressure coming by the EMA50, which supports the chances of surpassing the mentioned level and open the way to extend the bearish wave towards negative targets that reach 54.60.

 

Therefore, the bearish trend will remain suggested for the upcoming period unless breaching 60.90 level and holding above it.

 

The expected trading range for today is between 56.50 support and 59.30 resistance.

 

The expected trend for today: Bearish

Commodities News

Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...
Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...
Gold Analysis

Commodities

Gold price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Gold Price Analysis Gold price shows new positive trades to touch 2200.00$ barrier, waiting for ...