Crude oil price surpasses the target – Analysis - 23-02-2021

Economies.com
2021-02-23 04:56AM UTC

Crude oil price rallied upwards strongly to succeed touching our waited target at 62.00, and breached it to close the candlestick above it, which supports the continuation of the bullish trend on the intraday and short term basis, paving the way to head towards 65.60 that represents the next main station.

 

Therefore, the bullish trend will remain suggested in the upcoming period, noting that breaking 61.60 might force the price to provide temporary negative trades before turning back to rise again.

 

The expected trading range for today is between 61.00 support and 64.00 resistance.

The expected trend for today: Bullish

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...