Midday update for Crude oil 24-03-2023

Economies.com
2023-03-24 10:55AM UTC

Crude oil price shows new strong negative trades to surpass the first waited target at 68.10 and breaks it to close the last four hours’ candlestick below it, which supports the expectations of extending the bearish wave to head towards 66.20 as a next negative target.

 

Therefore, our bearish overview will remain active for today supported by the negative pressure formed by the EMA50, noting that holding below 68.10 represents the first condition to continue the expected decline, as breaching it might push the price to start recovery attempts and head to test 70.55 areas mainly.

 

The expected trading range for today is between 66.50 support and 68.50 resistance.

The expected trend for today: Bearish

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...