Crude oil price faces solid resistance – Analysis - 29-07-2022
Economies.com
2022-07-29 04:03AM UTC
Crude oil price found solid resistance at 98.25, to rebound downwards clearly and head towards retesting the breached resistance of the main bearish channel, which turns into support now at 94.90, noting that the price needs to hold above this level to keep the positive scenario active, which targets testing the mentioned resistance initially.
Stochastic shows positive signals that support the chances of rising in the upcoming sessions, noting that breaking 94.90 will stop the positive scenario and press on the price to return to the main bearish channel again.
The expected trading range for today is between 94.00 support and 98.80 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 ...