Midday update for Crude Oil 11-01-2017
Economies.com
2017-01-11 11:11AM UTC
Crude oil price shows slight bullish bias heading towards a potential retest to 51.70 level, as long as the price below this level, so the negative pressure will remain valid in the upcoming period, supported by the EMA50, waiting for visiting 48.37 level mainly.
Stochastic positivity explains the reasons of the current positive fluctuation, taking into consideration that breaching 51.70 level will stop the current negative pressure and leads the price to regain its main bullish track.
Expected trading range for today is between 48.37 support and 52.10 resistance.
Expected trend for today: Bearish
Commodities News
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities
Oil prices extend losses, with Brent plumbing five-week lows
2024-04-30 14:59PM UTC
Oil prices fell in American trade on Tuesday, extending losses for the third straight session, with ...
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 Technical Analysis
Commodities
Wheat price tests the support base – Forecast today - 02-05-2024
2024-05-02 04:03AM UTC
Wheat Price Analysis Expected Scenario Wheat price continues to press on 597.10$ support ...
Commodities
Soybean price attempts to recover – Forecast today - 02-05-2024
2024-05-02 04:03AM UTC
Soybean Price Analysis Expected Scenario Soybean price begins today with clear positivity to ...
Commodities
Corn price surpasses the resistance – Forecast today - 02-05-2024
2024-05-02 04:03AM UTC
Corn Price Analysis Expected Scenario Corn price resumed its positive trading clearly to ...