Silver price begun today and this week trading with sharp decline that allows it to approach from the psychological barrier 20.00, and bounces to achieve some bullish bias by the effect of the bearish channel’s support that appears in the image, besides Stochastic positivity.

Now, we need to stay aside temporarily, and the main reason is that the price reached the retest level of the previously breached main resistance which turned into support at 19.85- appears in the dashed red line-, thus the steadiness of this level might be a signal for the bullish trend return again, while confirming breaking it with a daily close below this level will open the way towards more downside track on the short term and medium term basis.

Expected trading range for today is between: 19.85 support and 22.00 resistance.

Expected trend for today: Neutral

Gold price opened this week with a decline surpassing 1350.00, opening the way towards more bearish trend on the intraday basis, waiting for 1300.00 as a next main station.

The price might be forced to some temporary bullish bias which is affected by Stochastic positivity before resuming the overall bearish trend, which will remain valid and preferred unless breaching 1385.00 and holding above it, where this breach will lead to recovery attempts that might reach towards 1410.00 and extend to 1447.00

Expected trading range for today is between: 1300.00 support and 1370.00 resistance.

Expected trend for today: Bearish

The pair rallied higher well, approaching from the first main target at 1.0365, while Stochastic provides negative signal that might cause some temporary fluctuation before attempting to resume the bullish bias.

Note that breaching above 1.0365 will open the way towards 1.0660, while breaking below 1.0150 – 1.0110 will stop these positive expectations.

Expected trading range for today is between: 1.0150 support and 1.0445 resistance.

Expected trend for today: Bullish

The pair tested the bullish channel’s resistance, opening the week trading with bearish bias keeping the price below this resistance, which make us continue in preferring the bearish intraday trend depending on the trading rules inside the price channels, besides the negative effect provided by Stochastic now.

Our waited targets begin at 101.50, while achieving them requires holding below 103.05

Expected trading range for today is between 101.50 support and 103.35 resistance.

Expected trend for today: Bearish