Brent oil price tests the neckline – Analysis - 13-02-2019
Brent oil price leaned on the intraday bullish channel’s support line that appears on the chart to trade with clear positivity yesterday, noticing that the price test the neckline of the inverted head and shoulders’ pattern that appears on the chart, located at 63.10, which supports the chances of turning back to resume the short term bullish trend, noting that confirming breaching the mentioned level will push the price to head towards 68.00 followed by 72.65 levels on the short term basis.
Therefore, the bullish trend will be suggested for the upcoming period unless breaking 61.85 followed by 61.10 levels and holding below them.
The expected trading range for today is between 61.85 support and 65.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Will gold prices scale $3000 an ounce in 2024?
Gold prices continued to move in a positive zone and approached the record highs scaled last week ...
Commodities
Gold enters a downward correctional cycle in wait for Israeli response
Gold prices declined in European trade on Tuesday on profit-taking, after the precious metal ...
Commodities
Brent backs off six-month peak as Iran-Israel war concerns subside
International benchmark Brent fell in European trade off six-month highs, trading below $90 a ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 16-04-2024
Brent Oil Price Forecast Brent oil price finds solid resistance at 90.90$, to show negative ...
Commodities
Crude oil price forecast update 16-04-2024
Crude Oil Price Forecast Crude oil price trades negatively to press on 85.45$ support line, ...
Commodities
Silver price forecast update 16-04-2024
Silver Price Forecast Silver price faces clear negative pressure now, to approach the key ...