Crude oil price keeps its negative stability – Analysis - 27-08-2019
Economies.com
2019-08-27 04:57AM UTC
Crude oil price attempted to breach 54.47 level but it faced solid resistance formed by the bearish channel’s resistance that appears on the chart, as the EMA50 met this barrier to add more strength to it, which pushed the price to settle below the mentioned level, to keep the bearish trend valid and suggested in the upcoming sessions, waiting to visit 51.61 level that represents our next main station.
We should note that breaching 54.47 followed by 55.05 levels will stop the expected decline and push the price to achieve gains that reach 57.33 on the near term basis.
The expected trading range for today is between 51.61 support and 55.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...
Commodities
Crude oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price shows slight negative trades ...