Crude oil price tests the resistance – Analysis - 17-03-2023
2 weeks ago

Crude oil price shows positive trades to test the key resistance 69.25, which urges caution from the upcoming trading, as breaching this level will lead the price to achieve additional gains and intraday bullish correction that targets testing 71.45 level before any new attempt to decline.


Stochastic loses its positive momentum clearly to show clear overbought signals now, while the EMA50 forms continuous negative pressure against the price.


Therefore, we will continue to suggest the bearish trend for the upcoming period as long as 69.25 level remains intact, reminding you that our next target is located at 65.70.


The expected trading range for today is between 67.00 support and 70.50 resistance.

The expected trend for today: Bearish

Commodities News

Gold News


Gold declines but marks weekly and monthly profits
17 hours ago
Gold prices fell on Friday as the dollar gained ground against most  major rivals following US ...
Palladium News


Palladium climbs to near $1500 an ounce
22 hours ago
Palladium prices rose on Friday even as the dollar edged up against major rivals, with the metal ...
Oil News


Oil extends gains to two-week high on supply shortage concerns
1 day ago
Oil prices rose in European trade for the second session, hitting two-week highs and on track for ...

Commodities Technical Analysis

Brent oil Analysis


Midday update for Brent oil 31-03-2023
1 day ago
Brent oil price resumes its positive trading now to move away from 78.50 level, to support the ...
Oil Analysis


Midday update for Crude oil 31-03-2023
1 day ago
Crude oil price is attempting to breach 74.50 level now, which supports the continuation of the ...
Silver Analysis


Midday update for Silver 31-03-2023
1 day ago
Silver prices fluctuate near 24.00 level, waiting for more rise to surpass this level and rally ...