Crude oil price is affected by the negative momentum – Analysis - 19-08-2022
Economies.com
2022-08-19 04:18AM UTC
Crude oil price shows some bearish bias to test the EMA50, affected by stochastic negativity, waiting to get positive momentum that assists to push the price to resume the correctional bullish trend, which targets 94.50 as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 89.05, as breaking it will press on the price to decline again and head to test 87.75 followed by 86.36 levels initially.
The expected trading range for today is between 88.00 support and 92.00 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 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 ...