Crude oil price gets negative close – Analysis - 23-06-2022
Economies.com
11 months ago
Crude oil price showed mixed trades yesterday after achieving our first waited negative target at 101.50 but it closed the daily candlestick below 104.60, to reinforce the expectations of continuing the bearish trend in the upcoming sessions, organized inside the bearish channel that appears on the chart, waiting to head towards 98.95 as a next main target.
Therefore, we will continue to suggest the bearish trend on the intraday and short term basis, noting that breaching 104.60 will lead the price to start recovery attempts and achieve gains that start by visiting 109.15 areas.
The expected trading range for today is between 100.00 support and 105.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Palladium climbs as dollar reverses course
3 days ago
Palladium prices rose on Friday as the dollar lost ground against most major rivals while ...
Commodities
Oil prices on track for second weekly profit in row
3 days ago
Oil prices rose in European trade on Friday after a pause from gains yesterday on profit-taking off ...
Commodities
Silver prices on track for the third weekly loss in row as dollar strengthens
3 days ago
Silver prices rose in European trade for the first time in five days off two-month lows hit earlier ...
Commodities Technical Analysis
Commodities
No news for natural gas price – Analysis – 30-5-2023
2 hours ago
No news for natural gas price, to continue forming weak sideways waves near 2.350 and keep its main ...
Commodities
Platinum price tends towards the negativity – Analysis – 30-5-2023
2 hours ago
Despite the recent platinum price weak trades, its frequent consolidation near the MA55 confirms ...
Commodities
Copper price postpones the decline – Analysis – 30-5-2023
2 hours ago
Copper price was affected by the stability of the historical support 3.5500, to force it to ...