Crude oil price under the negative pressure – Forecast today - 15-04-2024
Economies.com
2024-04-15 04:05AM UTC
Crude Oil Price Analysis
Halt in Price Rise
Crude oil price's rise halted at the first target of $87.75, leading to a clear rebound downwards and surpassing the EMA50.
The price is now heading towards an expected test of the bullish channel's support line around $83.10.
Expected Scenarios
- Bearish bias is suggested for the upcoming sessions.
- Breaking below $84.90 will ease the mission to achieve the awaited target.
- Breaching $86.00 will stop the expected decline and may lead the price to attempt to resume the main bullish trend.
Trading Range
The expected trading range for today is between support at $83.60 and resistance at $86.60.
Trend forecast: Bearish
Commodities News
Commodities
Gold tumbles to one-month lows but still logs in monthly profit
2024-04-30 20:41PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, but the precious metal ...
Commodities
Oil prices extend losses, with Brent plumbing five-week lows
2024-04-30 14:59PM UTC
Oil prices fell in American trade on Tuesday, extending losses for the third straight session, with ...
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Brent Oil Trading Report Brent oil price is testing 84.77$ level and attempts to consolidate ...
Commodities
Crude oil price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Crude Oil Trading Report Crude oil price shows positive trades and attempts to breach 79.60$, ...
Commodities
Silver price forecast update 02-05-2024
2024-05-02 09:06AM UTC
Silver Trading Report Silver price continues to decline to move below the neckline of the double ...