Crude oil price resumes the decline – Analysis - 21-01-2020
Economies.com
2020-01-21 05:39AM UTC
Crude oil price bounced bearishly after the EMA50 formed solid resistance barrier against the price, to keep the bearish trend scenario valid and active for the upcoming period, waiting to test 57.40 level initially, reminding you that breaking this level will extend the bearish wave to reach 54.60.
Therefore, we will continue to suggest the bearish trend for the upcoming period, reminding you that breaching 59.20 will push the price to test the most important resistance for the short term trades at 60.90 before any new attempt to decline.
The expected trading range for today is between 56.50 support and 59.50 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 ...