Crude oil price hits the extended target – Analysis - 08-03-2021
Economies.com
2021-03-08 05:03AM UTC
Crude oil price opened today’s trading with strong rise to surpass our waited target at 67.00 and settles above the main bullish channel’s resistance that appears on the chart, which leads the price to achieve more expected gains on the short term and medium term basis, to head towards visiting 70.00 as a next main station.
The EMA50 keeps supporting the suggested bullish wave, noting that breaking 66.30 will stop the expected rise and press on the price to start intraday correctional bearish wave before any new attempt to rise.
The expected trading range for today is between 66.00 support and 69.00 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 29-04-2024
2024-04-29 09:54AM UTC
Brent Oil Price Analysis Key Points: Brent oil price has resumed positive trading, finding ...
Commodities
Crude oil price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Crude Oil Price Analysis Key Points: Crude oil price is currently testing the key ...
Commodities
Silver price forecast update 29-04-2024
2024-04-29 09:54AM UTC
Silver Price Analysis Key Points: Silver price is currently trading positively, influenced ...