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Crude oil price forecast update 20-08-2024

Economies.com
2024-08-20 09:21AM UTC

Crude oil price keeps declining to surpass our first extended target at 74.00$ and approaches the second target at 73.60$, and we expect the continuation of the bearish bias to achieve new negative targets that extend to 72.85$, waiting for more expected decline for the rest of the day conditioned by the price stability below 75.00$.

 

The expected trading range for today is between 72.50$ support and 75.50$ resistance

 

Trend forecast: Bearish

 

Silver price forecast update 20-08-2024

Economies.com
2024-08-20 09:21AM UTC

Silver price provides clear positive trades now to approach our new waited target at 30.06$, and the way seems open to surpass this level and achieve additional gains that extend to 31.00$ after confirming breaching the previous level, to keep the bullish trend valid and active for today for today conditioned by the price stability above 29.30$.

 

The expected trading range for today is between 28.95$ support and 29.70$ resistance.

 

Trend forecast: Bullish

 

Gold price forecast update 20-08-2024

Economies.com
2024-08-20 09:21AM UTC

Gold price resumes its positive trading clearly to move away from 2500.00$ barrier, which supports the continuation of the expected bullish trend for today, reminding you that our next target is located at 2540.00$, noting that the positive support that comes by the EMA50 reinforces the expectations to rise, while the bullish trend will remain valid unless breaking 2483.40$ and holding below it.

 

The expected trading range for today is between 2500.00$ support and 2530.00$ resistance.

 

Trend forecast: Bullish

The GBPUSD forecast update 20-08-2024

Economies.com
2024-08-20 09:21AM UTC

The GBPUSD price resumes its positive trading to approach our waited target at 1.3044$, and we suggest breaching this level to open the way to achieve additional gains that reach 1.3175$ as a next positive target, to keep the bullish trend scenario valid and active for today for today, noting that holding above 1.2970$ represents initial condition to the continuation of the suggested bullish wave.

 

The expected trading range for today is between 1.2920$ support and 1.3060$ resistance.

 

Trend forecast: Bullish

 

Frequently asked questions

What is the price of Oil today?

The price of Oil is $66.250 (2025-07-16 10:25AM UTC)