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 enters a downward correctional cycle in wait for Israeli response
2024-04-16 08:43AM UTC
Gold prices declined in European trade on Tuesday on profit-taking, after the precious metal ...
Commodities
Will gold prices scale $3000 an ounce in 2024?
2024-04-16 07:43AM UTC
Gold prices continued to move in a positive zone and approached the record highs scaled last week ...
Commodities
Brent backs off six-month peak as Iran-Israel war concerns subside
2024-04-15 13:18PM UTC
International benchmark Brent fell in European trade off six-month highs, trading below $90 a ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 16-04-2024
2024-04-16 09:52AM UTC
Brent Oil Price Forecast Brent oil price finds solid resistance at 90.90$, to show negative ...
Commodities
Crude oil price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Crude Oil Price Forecast Crude oil price trades negatively to press on 85.45$ support line, ...
Commodities
Silver price forecast update 16-04-2024
2024-04-16 09:48AM UTC
Silver Price Forecast Silver price faces clear negative pressure now, to approach the key ...