Crude oil price tests the channel’s support – Analysis - 04-06-2020
Economies.com
2020-06-04 04:57AM UTC
Crude oil price continues to fluctuate near 36.10 support line and keeps its stability above it, to remain stable inside the bullish channel that appears on the chart, noticing that the EMA50 keeps supporting the price from below, while stochastic approaches the oversold areas.
Therefore, theses factors encourage us to suggest the bullish trend for the upcoming period, reminding you that our next target is located at 41.04, while breaking 36.10 represents negative factor that will press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 35.50 support and 39.00 resistance.
The expected trend for today: Bullish
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
Wheat price begins negatively – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Wheat Price Analysis Expected Scenarios Wheat price provided strong positive trades in the ...
Commodities
Sugar price within sideways range – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Sugar Price Analysis Expected Scenarios Sugar price fluctuates within sideways range as ...
Commodities
Soybean price keeps rising – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Soybean Price Analysis Expected Scenarios Soybean price shows more bullish bias to settle ...