Midday update for Crude oil 16-11-2021

Economies.com
2021-11-16 10:39AM UTC

Crude oil price hovers around the EMA50, and as we mentioned in our morning report, the price needs to hold below 81.40 as a first condition to continue the expected decline, noticing that stochastic begins to provide negative overlapping signal that we are waiting to motivate the price to resume the expected bearish wave for today, reminding you that our targets begin at 79.85 and extend to 76.40 after breaking the previous level.

 

The expected trading range for today is between 79.60 support and 82.50 resistance.

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...