Crude oil price faces negative pressure – Analysis - 12-12-2019
Economies.com
2019-12-12 05:46AM UTC
Crude oil price returns to recover after the decline that it witnessed yesterday, as the EMA50 managed to protect the price from suffering more losses, to keep the main bullish trend valid on the intraday and short term basis, organized ni the bullish channel that appears on the chart, waiting to resume the bullish bias that its next target located at 60.90.
On the other hand, we should note that breaking 57.40 will stop the expected rise and press on the price to return to the correctional bearish track that its next target located at 54.60.
The expected trading range for today is between 58.00 support and 60.90 resistance.
The expected trend for today: Bullish
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 ...