Crude Oil retests 12/07/2013
Economies.com
2013-07-12 00:02AM UTC
Crude oil price continued its decline to retest the previously breached bullish channel’s resistance which turns into support now at 104.50, accompanied with Stochastic reaching to the oversold areas, which encourages us to suggest an upside rebound from the current level to target mainly 108.00.
Breaking below 104.50 will make the bearish trend extend to visit the intraday bullish channel’s support at 103.50
Expected trading range for today is between 103.50 support and 107.00 resistance.
Expected trend for today: Bullish
Commodities News
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
Oil prices move in a positive zone after surprise drop in US stocks
2024-04-24 12:29PM UTC
Global oil prices rose in European trade on Wednesday away from recent three-week lows after ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price keeps its stability above ...
Commodities
Crude oil price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price trades positively to approach ...
Commodities
Silver price forecast update 25-04-2024
2024-04-25 09:42AM UTC
Silver Price Analysis Expected Scenario Silver price shows positive trades to hint the ...