Midday update for Crude Oil 06/05/2016
Economies.com
2016-05-06 11:25AM UTC
Crude oil price tests the bullish channel’s support level that appears in the chart, while the price remains confined between the confirmation levels that represented by 43.20 support and 45.50 resistance, which makes us remain neutral until breaching one of the mentioned levels then detecting the next targets clearly.
The contradiction between stochastic positivity and the EMA50 negativity remains valid; to recognize the details of the above-mentioned levels and the expected targets from breaching it, please review our morning report.
Expected trading range for today is between 41.00 support and 47.00 resistance.
Expected trend for today: Depends on the above mentioned levels
Commodities News
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities
Palladium tumbles below $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows additional positive ...
Commodities
Crude oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price keeps its stability above ...
Commodities
Silver price forecast update 26-04-2024
2024-04-26 11:00AM UTC
Silver Price Analysis Expected Scenario Silver price provides slight positive trades to ...