Crude oil price returns to decline – Analysis - 15-08-2022

Economies.com
2022-08-15 04:11AM UTC

Crude oil price provided clear positive trades in the previous sessions to reach the thresholds of 94.50 level, but it bounced downwards strongly to surpass 91.45 level and settles below it, which puts the price under expected negative pressure in the upcoming sessions, on its way to achieve negative targets that start at 89.60 and extend to 87.40.

 

Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 91.45 and holding above it.

 

Advertistment

The expected trading range for today is between 88.00 support and 92.00 resistance.

Open Live Trading Account

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold resumes gains as US treasury yields decline
2023-12-05 08:55AM UTC
Gold prices rose in European trade on Tuesday, resuming gains and moving off recent record highs as ...
Gold News

Commodities

Gold gives up record high as dollar strengthens
2023-12-04 17:26PM UTC
Gold prices fell on Monday as the dollar index rose against most major rivals, moving away from ...
Copper News

Commodities

Copper loses over 2% as dollar edges up, while Chinese concerns resurface
2023-12-04 16:51PM UTC
Copper prices fell on Monday as the dollar rose against a basket of major rivals, amid growing ...

Commodities Technical Analysis

Gold Analysis

Commodities

Evening update for Gold 05-12-2023
2023-12-05 17:01PM UTC
Gold price resumes its negative trading to approach the bullish channel’s support line, and ...
Brent oil Analysis

Commodities

Midday update for Brent oil 05-12-2023
2023-12-05 10:35AM UTC
Brent oil price shows clear positive trading, to attack the critical resistance at 79.20, affected ...
Oil Analysis

Commodities

Midday update for Crude oil 05-12-2023
2023-12-05 10:35AM UTC
Crude oil price trades positively, attempting to breach 73.73 level, which requires being aware ...