Crude oil price tests the resistance again – Analysis - 23-10-2019
Economies.com
2019-10-23 04:43AM UTC
Crude oil price made new test to 54.60 level and keeps its stability below it, as it begins to provide calm negative trades now to move away gradually from the mentioned level, noticing that stochastic shows negative overlapping signal now, to motivate the price to provide more negative trades in the upcoming sessions.
Therefore, our bearish overview will remain valid on the intraday and short term basis, which targets 51.80 level as a first main station, noting that breaching 54.60 will stop the expected decline and lead the price to achieve additional gains that reach 57.42.
The expected trading range for today is between 51.80 support and 55.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Brent hits a two-week high after Iranian President's death, Saudi king's health deterioration
2024-05-20 15:19PM UTC
International benchmark Brent rose in American trade on Monday on track for the fourth profit in a ...
Commodities
Gold scales a fresh record high at $2450
2024-05-20 08:52AM UTC
Gold prices rose in European trade on Friday on track for the second profit in a row, hitting a ...
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 20-05-2024
2024-05-20 10:42AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price is facing temporary negative ...
Commodities
Crude oil price forecast update 20-05-2024
2024-05-20 10:41AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price is testing the key support ...
Commodities
Silver price forecast update 20-05-2024
2024-05-20 10:40AM UTC
Silver Price Analysis Expected Scenario Silver price shows some bearish bias now, ...