Crude oil suffers more losses – Analysis - 09-11-2018
Economies.com
2018-11-09 04:51AM UTC
Crude oil price shows more bearish bias to approach our main waited target at 60.00, and it keeps moving inside the bearish channel, supported by the negative pressure that comes by the EMA50, waiting to surpass the mentioned level to confirm extending the bearish wave towards 58.50 areas on the near term basis.
Therefore, the bearish trend will remain dominant in the upcoming period unless breaching 62.40 level and holding above it.
Expected trading range for today is between 59.00 support and 61.50 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
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 Technical Analysis
Commodities
Coffee price collapses – Forecast today – 7-5-2024
2024-05-07 05:38AM UTC
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
2024-05-07 05:37AM UTC
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...
Commodities
Platinum price leans above the moving average – Forecast today – 7-5-2024
2024-05-07 05:31AM UTC
Expected Scenarios and Trading Range Scenario 1: Positive Stability Platinum price maintains ...