Crude oil price keeps its negative stability – Forecast today - 03-05-2024
Economies.com
2024-05-03 03:37AM UTC
Crude Oil Price Analysis
- Crude oil price settles below 79.60$, keeping the correctional bearish scenario active.
- The next target is 77.65$, representing the 61.8% Fibonacci correction level for the rise from 71.35$ to 87.80$.
- The price is affected by the previously completed double top pattern, visible on the chart.
- Surpassing 79.60$ and holding above it will stop the bearish wave and push the price to attempt to build an intraday bullish wave.
The expected trading range for today is between 77.50$ support and 80.60$ resistance.
Trend forecast: Bearish
Commodities News
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 $30 an ounce for the ...
Commodities
Gold hovers near four-week high ahead of Christopher Waller's remarks
2024-05-17 09:13AM UTC
Gold prices rose in European trade on Friday, resuming gains and approaching four-week highs, and ...
Commodities Technical Analysis
Commodities
Update: Silver price resumes the bullish track
2024-05-17 15:23PM UTC
Silver price rallied upwards strongly to breach 29.80$ level and approach 31.00$ barrier, to stop ...
Commodities
Brent oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price hovers around the EMA50 that ...
Commodities
Crude oil price forecast update 17-05-2024
2024-05-17 09:10AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price shows slight negative trades ...