Crude oil price tests the resistance – Analysis - 17-03-2023
2023-03-17 04:17AM UTC

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

Oil News


Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...
Gold News


Gold keeps rising as dollar loses steam
2023-12-07 08:26AM UTC
Gold prices rose in European trade on Thursday for another session as the dollar slowed down ...
Steel News


Nickel climbs as dollar loses ground while markets assess Chinese data
2023-12-06 15:29PM UTC
Nickel prices rose on Wednesday as the dollar loses ground against major rivals while markets ...

Commodities Technical Analysis

Technical Analysis


Wheat price breaches the resistance – Analysis - 08-12-2023
2023-12-08 04:41AM UTC
Wheat price bounced upwards clearly yesterday to breach 639.30 and close the daily candlestick ...
Technical Analysis


Sugar price presses on the support – Analysis - 08-12-2023
2023-12-08 04:40AM UTC
Sugar price continues to fluctuate near 22.60 level and presses negatively on it, to keep the ...
Technical Analysis


Soybean price attempts positively – Analysis - 08-12-2023
2023-12-08 04:40AM UTC
Soybean price surpassed 1311.70 level strongly to approach the EMA50, hinting heading to build ...