Crude oil price needs strong positive motive – Analysis - 17-09-2021
Economies.com
2021-09-17 04:37AM UTC
Crude oil price faced temporary negative pressure yesterday but it returns to rise again, and it needs to get positive momentum that assist to resume the bullish wave to breach 73.30 and open the way to visit 75.00 as a next main target.
The EMA50 continues to support the price from below, to keep the bullish trend valid and active for the upcoming period, noting that breaking 71.05 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 71.05 support and 74.00 resistance.
The expected trend for today: Bullish
Commodities News
Commodities
Oil prices lost ground despite large US inventory drawdown
2024-04-24 20:42PM UTC
Oil prices fell on Wednesday despite earlier official data that showed a steep decline in US crude ...
Commodities
US crude stocks fall more than expected
2024-04-24 16:29PM UTC
The Energy Information Administration reported a drop of 6.4 million barrels in US crude stocks ...
Commodities
Oil prices move in a positive zone after surprise drop in US stocks
2024-04-24 12:29PM UTC
Global oil prices rose in European trade on Wednesday away from recent three-week lows after ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Analysis of Expected Scenarios Brent oil price trades with slight negativity to head towards ...
Commodities
Crude oil price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Crude oil price trades negatively now after facing solid resistance at 83.90$, to hint heading to ...
Commodities
Silver price forecast update 24-04-2024
2024-04-24 09:29AM UTC
Silver price didn’t show any strong move since morning, to fluctuate around 27.20$ level, ...