Midday update for Crude oil 28-03-2023

Economies.com
2023-03-28 11:42AM UTC

Crude oil price resumes its positive trading after leaning on 72.50 level that forms key support base, to move away gradually from this level, reinforcing the expectations of continuing the correctional bullish trend in the upcoming sessions, which targets 74.45 as a next positive station.

 

Therefore, the bullish trend scenario will remain active, supported by moving above the EMA50, motivated by the previously completed double bottom pattern, reminding you that it is important to hold above 72.50 to achieve the waited targets.

 

The expected trading range for today is between 71.40 support and 74.50 resistance.

The expected trend for today: Bullish

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 ...