Crude oil price tests the support base – Analysis - 10-12-2021
Economies.com
2021-12-10 05:24AM UTC
Crude oil price continued to decline to test the key support base 70.85 and settles there, as it attempts to consolidate above this level, accompanied by witnessing clear positive signals through stochastic, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets visiting 73.60 as a first positive station.
Therefore, we will keep our bullish overview conditioned by the price stability above 70.85, as breaking it will press on the price to achieve additional decline and head towards 68.55 areas initially.
The expected trading range for today is between 69.50 support and 73.00 resistance.
The expected trend for today: Bullish
Commodities News
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
Oil prices try to recover from seven-week lows
2024-05-02 13:05PM UTC
Global oil prices rose in European trade on Thursday for the first time in five sessions away from ...
Commodities Technical Analysis
Commodities
Platinum price moves slowly – Forecast today – 3-5-2024
2024-05-03 07:02AM UTC
Scenarios Scenario 1: Slow Positive Attempts Despite positive factors, platinum price sees slow ...
Commodities
Copper price under the negative pressure – Forecast today – 3-5-2024
2024-05-03 07:00AM UTC
Scenarios Scenario 1: Continuous Negative Pressure Copper price affected by stochastic exit ...
Commodities
Wheat price is recovering – Forecast today - 03-05-2024
2024-05-03 03:37AM UTC
Wheat Price Analysis Wheat price bounced clearly upwards after the 597.10$ level formed solid ...