Brent oil price achieves additional negative targets – Analysis - 29-11-2021

Economies.com
2021-11-29 05:27AM UTC

Brent oil price broke 75.20 level strongly to decline strongly and reach 71.00$ barrier, and returns to attempt to recover but it settles below the resistance line formed below 75.20, which makes us suggest resuming the negative trades to target 72.70 followed by 69.60 levels as next main targets.

 

Therefore, the bearish trend will remain expected for the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 75.20 is considered as the first positive key to attempt to stop the current negative pressure.

 

The expected trading range for today is between 72.50 support and 76.00 resistance.

 

The expected trend for today: Bearish

Commodities News

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 ...
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 ...

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 ...