Crude oil price tests the support – Analysis - 10-08-2020
Economies.com
2020-08-10 03:37AM UTC
Crude oil price tested 41.05 level and bounced bullishly from there, to keep the bullish trend active on the intraday and short term basis, supported by the EMA50 that carries the price from below, besides stochastic that provides clear positive signals.
Our expected targets start by breaching 43.05 to open the way to head towards 45.00, noting that breaking 41.05 will stop the suggested rise and press on the price to start correctional bearish wave.
The expected trading range for today is between 40.50 support and 43.50 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Oil prices lost ground despite large US inventory drawdown
2024-04-24 20:42PM UTC
Oil prices fell on Wednesday despite earlier official data that showed a steep decline in US crude ...
Commodities
US crude stocks fall more than expected
2024-04-24 16:29PM UTC
The Energy Information Administration reported a drop of 6.4 million barrels in US crude stocks ...
Commodities
Oil prices move in a positive zone after surprise drop in US stocks
2024-04-24 12:29PM UTC
Global oil prices rose in European trade on Wednesday away from recent three-week lows after ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Analysis of Expected Scenarios Brent oil price trades with slight negativity to head towards ...
Commodities
Silver price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Silver price didn’t show any strong move since morning, to fluctuate around 27.20$ level, ...
Commodities
Gold price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Analysis of Expected Scenarios Gold price shows slight negative trades now to hint the attempt ...