Crude oil price surpasses the first positive target – Analysis - 20-11-2023
2023-11-20 04:12AM UTC

Crude oil price continued the bullish rally to surpass our first positive target at 75.85 and test the bearish channel’s resistance that appears on the chart, and we suggest the continuation of the rise to visit 77.86 as a next positive target, to keep the bullish bias suggested in the upcoming sessions.


Note that the technical indicators provide negative signals that might hinder the mission to rise, taking into consideration that failing to surpass the current resistance lines around 76.60 will stop the positive scenario and push the price to decline again.



The expected trading range for today is between 75.40 support and 78.40 resistance.


The expected trend for today: Bullish

Commodities News

Gold News


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


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 ...
Gold News


Gold surpasses $2100, scales record high
2023-12-04 09:44AM UTC
Gold prices rose in European trade on Monday, extending gains for a second session and passing ...

Commodities Technical Analysis

Oil Analysis


Evening update for Crude oil price 04-12-2023
2023-12-04 15:02PM UTC
Crude oil price shows more bearish bias to move away from 73.73 level, to support the expected ...
Silver Analysis


Evening update for silver price 04-12-2023
2023-12-04 15:02PM UTC
Silver price shows additional negative trades to approach our waited target at 24.60, and it is ...
Gold Analysis


Evening update for Gold 04-12-2023
2023-12-04 15:02PM UTC
Gold price faces strong negative pressure to confirm breaking 2075.25 level and heads to decline on ...