Midday update for Crude Oil 30-09-2016
Economies.com
2016-09-30 10:51AM UTC
Crude oil price provided some negative trading this morning to approach from retesting 46.96 level, as it keeps its stability above it, noticing that stochastic gets rid of its negativity clearly to gain the positive momentum on the four hours' time frame, while the EMA50 keeps supporting the price from below.
Therefore, these factors encourage us to continue suggesting the bullish trend in the upcoming sessions, which its next main target located at 49.34, while achieving it conditions holding above 46.96.
Expected trading range for today is between 46.00 support and 50.00 resistance.
Expected trend for today: Bullish
Commodities News
Commodities
Oil prices reverse lower, with US crude slumping 7% this week
2024-05-03 19:36PM UTC
Oil prices fell on Friday to seven-week lows amid concerns about oversupplies after an unexpected ...
Commodities
Gold under pressure ahead of US jobs data
2024-05-03 08:37AM UTC
Gold prices fell in European trade on Friday, extending losses for the second straight session and ...
Commodities
Gold gains ground as dollar dips while traders digest Fed's decisions
2024-05-02 18:30PM UTC
Gold prices rose on Thursday as the dollar fell against most major rivals, while investors digest ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Brent oil price shows new negative trades now in attempt to resume the correctional bearish trend, ...
Commodities
Crude oil price forecast update 03-05-2024
2024-05-03 13:54PM UTC
Crude oil price resumes its negative trading to move away from 79.60$ level, reinforcing the ...
Commodities
Silver price forecast update 03-05-2024
2024-05-03 13:53PM UTC
Silver price declines again to reach our waited target at 26.00$, waiting to break this level to ...