Crude oil tests the support base – Analysis - 13-09-2018
Economies.com
2018-09-13 03:54AM UTC
Crude oil price tests the support base formed at 69.74 after breaching it previously and keeps its stability above it until now, accompanied by stochastic reach to the overbought areas’ thresholds, which supports the chances of resuming the expected bullish trend on the intraday and short term basis, which its next targets located at 71.38 and extend to 72.70.
We should note that breaking 69.74 might push the price to test 68.73 followed by 67.91 levels before any new attempt to rise.
Expected trading range for today is between 68.73 support and 71.80 resistance.
Expected trend for today: Bullish
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
Brent oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Brent Oil Price Analysis Brent oil price is affected by stochastic positivity, trading ...
Commodities
Crude oil price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Crude Oil Price Analysis Crude oil price fluctuates positively to approach testing the key ...
Commodities
Gold price forecast update 06-05-2024
2024-05-06 11:08AM UTC
Gold Price Analysis Gold price trades positively to test the key resistance at 2325.90$. As ...