Crude oil price forecast update 09-05-2024
Economies.com
2024-05-09 09:35AM UTC
Crude Oil Price Analysis
Expected Scenario
- Crude oil price trades with clear positivity to attack 79.6$ level and attempts to hold above it.
- Urges caution from the upcoming trading, as confirming the breach will stop the correctional bearish scenario and push the price to recover and visit 81.50$ initially.
- The technical indicators continue to provide the negative signals that support the chances of resuming the expected decline.
- Its next main target reaches 77.64$.
Expected Trading Range
Between 77.60$ support and 80.70$ resistance.
Trend Forecast: Bearish
Commodities News
Commodities
Gold scales a fresh record high at $2450
2024-05-20 08:52AM UTC
Gold prices rose in European trade on Friday on track for the second profit in a row, hitting a ...
Commodities
Gold scales fresh record highs and marks weekly gains
2024-05-17 21:03PM UTC
Gold prices rose on Friday and scaled fresh record highs, marking the second weekly profit in a ...
Commodities
Silver about to trade above $30 once more for first time in 3 years
2024-05-17 11:54AM UTC
Silver prices rose in European trade on Friday, resuming gains and approaching $30 an ounce for the ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 20-05-2024
2024-05-20 10:42AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price is facing temporary negative ...
Commodities
Crude oil price forecast update 20-05-2024
2024-05-20 10:41AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price is testing the key support ...
Commodities
Silver price forecast update 20-05-2024
2024-05-20 10:40AM UTC
Silver Price Analysis Expected Scenario Silver price shows some bearish bias now, ...