Crude oil price suffers sharp losses – Analysis - 09-06-2023
Economies.com
2023-06-09 03:50AM UTC
Crude oil price faced strong negative pressure yesterday to break 71.55 level and approach 68.75, to confirm reactivating the negative scenario on the intraday basis, waiting for new negative trades to surpass the last level and open the way to head towards 67.00 followed by 65.50 levels as next negative stations.
Moving below the EMA50 supports the continuation of the expected decline, while breaching 71.55 will stop the current negative pressure and lead the price to attempt to recover again.
The expected trading range for today is between 69.00 support and 72.20 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Nickel edges up as dollar tumbles
2024-05-15 15:57PM UTC
Nickel prices rose on Wednesday as the dollar slid against major rivals following major US ...
Commodities
Oil prices slide to 3-month trough on grim outlook for global demand
2024-05-15 14:37PM UTC
Global oil prices skidded in American trade on Wednesday to three-month lows, sharpening losses for ...
Commodities
Gold moves in a positive zone ahead of US inflation data
2024-05-15 09:19AM UTC
Gold prices rose in European trade on Wednesday, extending gains for the second straight day and ...
Commodities Technical Analysis
Commodities
End of day crude oil price forecast update - 15-05-2024
2024-05-15 17:43PM UTC
Crude oil price attempted to break 77.64$ level but it returned to consolidate above it, to head ...
Commodities
End of day gold price forecast update - 15-05-2024
2024-05-15 17:43PM UTC
Gold price continues to rise to surpass 2380.00$ and approach the first waited positive target at ...
Commodities
Brent oil price forecast update 15-05-2024
2024-05-15 09:29AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price settles within a tight range ...