Crude oil price under the negative pressure – Analysis - 14-03-2023
Economies.com
2023-03-14 03:54AM UTC
Crude oil price resumed its negative trades clearly to move away from 75.64 level, reinforcing the chances of activating the negative scenario on the intraday and short term basis, opening the way to achieve negative targets that start by surpassing 73.70 to open the way to head towards 70.30 areas.
Therefore, we expect to witness more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 75.64 will stop the expected bearish trend and lead the price to start bullish wave and attempts to recover on the intraday basis.
The expected trading range for today is between 71.80 support and 75.20 resistance.
The expected trend for today: Bearish
Commodities News
Commodities
Oil prices try to recover from six-month trough
2023-12-07 13:55PM UTC
Global oil prices rose on Thursday for the first time in six days away from six-month lows as the ...
Commodities
Gold keeps rising as dollar loses steam
2023-12-07 08:26AM UTC
Gold prices rose in European trade on Thursday for another session as the dollar slowed down ...
Commodities
Nickel climbs as dollar loses ground while markets assess Chinese data
2023-12-06 15:29PM UTC
Nickel prices rose on Wednesday as the dollar loses ground against major rivals while markets ...
Commodities Technical Analysis
Commodities
Wheat price breaches the resistance – Analysis - 08-12-2023
2023-12-08 04:41AM UTC
Wheat price bounced upwards clearly yesterday to breach 639.30 and close the daily candlestick ...
Commodities
Sugar price presses on the support – Analysis - 08-12-2023
2023-12-08 04:40AM UTC
Sugar price continues to fluctuate near 22.60 level and presses negatively on it, to keep the ...
Commodities
Soybean price attempts positively – Analysis - 08-12-2023
2023-12-08 04:40AM UTC
Soybean price surpassed 1311.70 level strongly to approach the EMA50, hinting heading to build ...