Crude oil price loses its gains – Analysis - 29-09-2021
Economies.com
2021-09-29 04:02AM UTC
Crude oil price keeps declining strongly to confirm targeting 73.30 level, waiting for more negative trades in the upcoming sessions, being aware that it is important to monitor the price behavior when reaching this level, as breaking it will press on the price to suffer additional losses that reach 71.05 areas.
Therefore, the bearish bias will be suggested for today unless the price managed to breach 75.25 level and hold above it, noting that breaching this level will allow the price to resume the main bullish trend and head towards 76.95 initially.
The expected trading range for today is between 72.50 support and 75.50 resistance.
The expected trend for today: Bearish
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 ...