Crude oil retests – Analysis - 20-04-2018
Economies.com
2018-04-20 03:54AM UTC
Crude oil price retested the previously breached resistance of the bullish channel that appears on the chart, accompanied by stochastic reach to the oversold areas, which supports the chances of bouncing bullishly to resume the main bullish trend, reinforced by the EMA50 that carries the price from below.
Therefore, we will keep our positive overview for today conditioned by the price stability above 68.15, noting that we are waiting to visit 70.00 level as a next main station.
Expected trading range for today is between 67.00 support and 70.50 resistance.
Expected trend for today: Bullish
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
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...