Crude oil price touches the target – Analysis - 16-06-2022
Economies.com
2022-06-16 04:19AM UTC
Crude oil price succeeded to achieve our waited target at 113.70 and attempts to break it, to hint heading to achieve more expected decline in the upcoming period, paving the way to head towards 111.00 followed by 109.15 levels.
Therefore, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, taking into consideration that failing to break 113.70 will lead the price to start new bullish wave that targets testing 116.85 followed by 117.75 areas initially.
The expected trading range for today is between 111.00 support and 116.00 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
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 Technical Analysis
Commodities
Wheat price begins negatively – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Wheat Price Analysis Expected Scenarios Wheat price provided strong positive trades in the ...
Commodities
Sugar price within sideways range – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Sugar Price Analysis Expected Scenarios Sugar price fluctuates within sideways range as ...
Commodities
Corn price under the negative pressure – Forecast today - 06-05-2024
2024-05-06 04:09AM UTC
Corn Price Analysis Expected Scenarios Corn price couldn’t manage to hold for long time ...