Crude oil price tests the support – Analysis - 21-05-2019
Economies.com
2019-05-21 00:46AM UTC
Crude oil price tested the key support 62.40 and bounced bullishly from there, to approach the intraday bullish channel’s resistance at 63.95, waiting to breach this level to ease the mission of continuing the main bullish wave, which targets 65.00 as a next main station.
Stochastic begins to overlap positively to support the expectations to rise, noting that breaking 62.40 will press on the price to test 61.25 – 60.86 areas before any new attempt to rise.
The expected trading range for today is between 62.40 support and 65.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
How did gold become a major component in Nvidia's signature GPUs?
2024-04-25 20:32PM UTC
Nvidia has witnessed one of the most stunning success stories in recent years.. But before we get ...
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 Technical Analysis
Commodities
No new for natural gas price – Forecast today – 26-4-2024
2024-04-26 06:51AM UTC
Natural Gas Price Analysis Expected Scenario Natural gas price returned to form weak ...
Commodities
Platinum price confirms the positivity – Forecast today – 26-4-2024
2024-04-26 06:43AM UTC
Platinum Price Analysis Expected Scenario Platinum price succeeded to hold above the key ...
Commodities
Copper price surpasses the first target – Forecast today – 26-4-2024
2024-04-26 06:42AM UTC
Copper price returned to form bullish waves, taking advantage of the main stability within the ...