Crude oil price hits the target – Analysis - 12-05-2022
Economies.com
2022-05-12 04:09AM UTC
Crude oil price succeeded to touch our waited target at 104.60 and found solid resistance there, to start bouncing bearishly, which pushes the price to start expected bearish wave on the intraday basis, targeting visiting 98.95 level mainly.
Therefore, we expect to witness more decline today, motivated by stochastic negativity, taking into consideration that breaching 104.60 will stop the suggested negative scenario and lead the price to achieve additional gains that reach 109.15.
The expected trading range for today is between 99.00 support and 105.00 resistance.
The expected trend for today: Bearish
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 26-04-2024
2024-04-26 11:01AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows additional positive ...
Commodities
Crude oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price keeps its stability above ...
Commodities
Silver price forecast update 26-04-2024
2024-04-26 11:00AM UTC
Silver Price Analysis Expected Scenario Silver price provides slight positive trades to ...