Crude oil price faces temporary negative pressure – Forecast today - 22-03-2024
Economies.com
2024-03-22 02:48AM UTC
Crude oil price’s decline stopped at 23.6% Fibonacci correction level that formed solid support at 80.68$, which supports the chances of recovering and head to regain the main bullish track again, waiting to achieve new gains that target 83.85$ areas initially.
Breaching 81.80$ will ease the mission to achieve the expected rise, taking into consideration that breaking 80.68$ will stop the bullish trend and push the price to achieve additional bearish correction that its next target reaches 78.90$.
The expected trading range for today is between 80.00$ support and 83.00$ resistance
Trend forecast: Bullish
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Wheat price touches the channel’s support line – Forecast today - 20-05-2024
2024-05-20 03:56AM UTC
Wheat Price Analysis Expected Scenario The wheat price managed to touch the bullish ...
Commodities
Sugar price keeps declining – Forecast today - 20-05-2024
2024-05-20 03:56AM UTC
Sugar Price Analysis Expected Scenario The sugar price returns to decline after the ...
Commodities
Soybean price within tight range – Forecast today - 20-05-2024
2024-05-20 03:56AM UTC
Soybean Price Analysis Expected Scenario The soybean price keeps moving within a tight ...