Crude oil price hits the target – Analysis - 14-08-2019
Economies.com
2019-08-14 05:12AM UTC
Crude oil price begins to rebound bearishly after it managed to achieve our waited target at 57.33, which hints the price head to resume the correctional bearish wave, on its way to visit 54.47 level as a next main station.
Therefore, we expect witnessing negative trades today, supported by the overbought signals that appear through stochastic, noting that breaching 57.33 will stop the negative scenario and lead the price to achieve more gains that reach 60.86 on the near term basis.
The expected trading range for today is between 54.50 support and 57.50 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Brent Oil Price Analysis Brent oil price is affected by stochastic positivity, trading ...
Commodities
Crude oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Crude Oil Price Analysis Crude oil price fluctuates positively to approach testing the key ...
Commodities
Gold price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Gold Price Analysis Gold price trades positively to test the key resistance at 2325.90$. As ...