Crude oil price tests the channel’s support line – Analysis - 10-06-2021
Economies.com
2021-06-10 04:32AM UTC
Crude oil price traded with clear negativity yesterday to settle at the bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, waiting to motivate the price to resume the main bullish trend, which its next main target located at 72.20.
The EMA50 supports the suggested bullish wave, noting that breaking 69.25 will press on the price to continue the decline and visit 68.00 level before any new positive attempt.
The expected trading range for today is between 68.20 support and 71.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Gold declines to two-week lows
2024-04-23 20:50PM UTC
Gold prices fell on Tuesday even as the dollar fell against most major rivals ahead of important ...
Commodities
Oil prices hover at three-week lows as global supply concerns fade
2024-04-23 13:04PM UTC
Global oil prices fell in European trade on Tuesday on track for the second loss, almost touching ...
Commodities
Gold rushes above $2400 as Israel attacks Iran
2024-04-19 07:41AM UTC
Gold prices rose in European trade on Friday, extending gains for a second day and trading above ...
Commodities Technical Analysis
Commodities
End of day crude oil price forecast update - 23-04-2024
2024-04-23 18:24PM UTC
Crude oil price rallies upwards to reach our waited target at 83.90$, and the way seems open to ...
Commodities
Brent oil price forecast update 23-04-2024
2024-04-23 11:07AM UTC
Brent oil price attempted to breach 87.67$ level but it returns to hold below it, to keep the ...
Commodities
Crude oil price forecast update 23-04-2024
2024-04-23 11:07AM UTC
Crude oil price provided new positive trades to reach 83.40$ areas, and bounced bearishly to ...