Crude oil price still confined – Analysis - 17-06-2019
Economies.com
2019-06-17 04:08AM UTC
Crude oil price still confined inside the sideways range that its signs appear on the chart, between 51.61 support and 54.47 resistance, thus, the sideways trading scenario will remain dominant until the price manages to exit the mentioned range.
We remind you that breaking the mentioned support will press on the price to resume the short term bearish trend, to target 48.08 level as a next main station, while breaching the resistance represents positive factor that will push the price to start recovery attempts that target 57.33 areas initially.
The expected trading range for today is between 51.00 support and 54.00 resistance.
The expected trend for today: Sideways
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 ...