Crude oil price hits the first positive target – Analysis - 25-09-2023

Economies.com
2023-09-25 02:54AM UTC

Crude oil price managed to hit our waited initial target at 91.45, noticing that the price couldn’t continue the upside moves, to record a low top and provides signals for potential return to the bearish correctional track, waiting for testing 89.35 level initially, pointing that breaking this level will push the price towards 87.16 level as a next correctional target.

 

Therefore, we expect witnessing negative trading in the upcoming sessions, taking into consideration that breaching 91.45 will stop the expected decline and leads the price to resume the main bullish trend.

 

Advertistment

The expected trading range for today is between 88.80 support and 91.70 resistance.

 

The expected trend for today: Bearish

 

Commodities News

Palladium News

Commodities

Palladium sharpens decline to below $1000 an ounce
2023-12-08 16:57PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, sharpening losses to ...
Gold News

Commodities

Gold edges up ahead of US jobs data
2023-12-08 08:12AM UTC
Gold prices rose in European trade on Friday for the third straight session ahead of US monthly ...
Oil News

Commodities

Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...

Commodities Technical Analysis

Gold Analysis

Commodities

Evening update for Gold 08-12-2023
2023-12-08 15:05PM UTC
Gold price broke the bullish channel’s support line clearly and closed the last four ...
Brent oil Analysis

Commodities

Midday update for Brent oil 08-12-2023
2023-12-08 10:36AM UTC
Brent oil price attempted to breach 75.60 level but it returned to fluctuate below it again, which ...
Oil Analysis

Commodities

Midday update for Crude oil 08-12-2023
2023-12-08 10:36AM UTC
Crude oil price traded with additional positivity to attack 70.50 level but it returned to trade ...