Midday update for Crude oil 22-01-2021
Economies.com
2021-01-22 11:20AM UTC
Crude oil price shows new negative trades to start testing 51.70 level, which reinforce the chances of continuing the decline for the rest of the day, noting that breaking the mentioned level will confirm the completion of the double top pattern that has negative targets that reach 49.70.
Therefore, the bearish bias will be expected for the rest of the day unless the price rallied to breach 52.80 and hold above it.
The expected trading range for today is between 51.00 support and 54.00 resistance.
The expected trend for today: Bearish for the rest of the day
Commodities News
Commodities
Oil prices extend losses to 3%, hitting April lows
2024-04-17 18:33PM UTC
Oil prices fell on Wednesday and sharpened their losses considerably following US inventory data, ...
Commodities
Gold prices edge away from record highs
2024-04-17 18:26PM UTC
Gold prices fell on Wednesday even as the dollar lost ground against most major rivals, with ...
Commodities
Oil prices plumb two-week lows as concerns about Iran-Israel war fade
2024-04-17 15:23PM UTC
Oil prices fell in American trade on Wednesday, extending losses for the second straight day and ...
Commodities Technical Analysis
Commodities
Wheat price surpasses the target – Forecast today - 18-04-2024
2024-04-18 04:08AM UTC
Price Analysis: Wheat Expected Scenario The wheat price has successfully achieved the ...
Commodities
Sugar price keeps declining – Forecast today - 18-04-2024
2024-04-18 04:07AM UTC
Price Analysis: Sugar Expected Scenario The sugar price shows more bearish bias, ...
Commodities
Brent oil price begins bearish correction – Forecast today - 18-04-2024
2024-04-18 04:05AM UTC
Price Analysis: Brent Oil Expected Scenario Brent oil price encountered significant ...