Crude oil price leans on the channel’s support – Analysis - 04-10-2021
Economies.com
2021-10-04 04:24AM UTC
Crude oil price bounced upwards clearly after leaning on the main bullish channel’s support line, to head towards resuming the main bullish track, approaching the recently recorded top at 76.64, noting that breaching this level will extend the bullish wave to reach 79.00 areas on the near term basis.
Therefore, the bullish bias will be suggested in the upcoming sessions, noting that breaking 74.65 will stop the expected rise and put the price under the correctional bearish pressure again.
The expected trading range for today is between 74.50 support and 77.00 resistance.
The expected trend for today: Bullish
Commodities News
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
Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...