Crude oil prices resume the decline – Analysis - 20-03-2023
2 months ago

Crude oil price continued to decline strongly to reach the recorded low at 65.67, presses negatively on it, which supports the chances of continuing the expected bearish trend on the short term and medium term basis, and we suggest visiting 64.00 level in the upcoming sessions.


The EMA50 forms continuous negative pressure against the price to support the continuation of the expected bearish wave, noting that holding below 67.95 represents the first condition to continue the bearish wave, as breaching it will push the price to achieve intraday gains that target testing 69.25 level again before any new attempt to decline.


The expected trading range for today is between 64.50 support and 68.00 resistance.

The expected trend for today: Bearish

Commodities News

Gold News


Gold declines under pressure from the dollar
59 minutes ago
Gold prices declined in European trade for the first session in three under pressure from the ...
Gold News


Gold extends gains but still trades below $2,000
14 hours ago
Gold prices rose on Tuesday even as the dollar muscled up against major rivals, but the precious ...
Copper News


Copper loses momentum amid economic concerns and technical signals
18 hours ago
Copper prices stalled on Tuesday on continuous concerns about economic growth following weak US and ...

Commodities Technical Analysis

Natural gas Analysis


Natural gas price without any change – Analysis – 7-6-2023
4 hours ago
Natural gas price still waiting for any motivate to manage to exit the recently dominating calm ...
Platinum Analysis


Platinum price fluctuates below the barrier – Analysis – 7-6-2023
4 hours ago
Platinum price still consolidated below 1040.00 barrier until now, to hinder the chances of ...
Copper Analysis


Copper price needs new momentum – Analysis – 7-6-2023
4 hours ago
Copper price kept its positive stability above 3.5700 support line, to increase the chances of ...