Crude oil achieves clear gains – Analysis - 23-08-2018

Economies.com
2018-08-23 04:22AM UTC

Crude oil price settles around 68.06 level after the bullish rally that it witnessed yesterday, to keep the price stuck between the trend keys represented by the mentioned resistance and 66.90 support, which keeps our neutrality valid until now, waiting to braech one of the mentioned levels to detect the next destination clearly.

 

The contradiction between the EMA50 positivity and stochastic negativity still valid, noting that breaching 68.06 resistance will motivate the price to achieve more gains and attempt to regain the main bullish trend, to start the positive targets at 69.44 and extend to 70.82, while breaking 66.90 support will push the price back to the bearish channel and head towards 63.60 initially.

 

Expected trading range for today is between 66.00 support and 69.60 resistance.

 

Expected trend for today: Depends on the above mentioned levels

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
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 ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...