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Brent oil price achieves more decline – Analysis - 17-08-2021
Brent oil price traded with strong negativity yesterday, and approached our second waited target at 67.70, but it bounced bullishly to settle around 69.65 now, noticing that the price begins to decline again, to head towards start new bearish wave that targets visiting 67.70 as a next main station.
Therefore, the bearish bias will remain suggested for the upcoming sessions supported by the EMA50, unless breaching 69.65 and holding above it.
The expected trading range for today is between 67.70 support and 70.60 resistance.
The expected trend for today: Bearish
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Crude oil price approaches the second target – Analysis - 17-08-2021
Crude oil price achieved additional decline yesterday to approach our second target at 65.20, and returned to fluctuate around 67.45, noticing that the EMA50 continues to press negatively on the price, while stochastic loses its positive momentum clearly.
MoreSilver price attempts to recover - Analysis - 17-08-2021
Silver price bounced bullishly to breach 23.75 level and settles above it, which leads the price to achieve more expected rise on the intraday basis, on its way to test the bearish channel’s resistance around 24.75 as a main target.
MoreThe USDCAD approaches the target – Analysis - 17-08-2021
The USDCAD pair trades with clear positivity to reach the thresholds of the waited target at 1.2615, and we expect to surpass this level and achieve more gains on the intraday and short term basis, as the next target reaches 1.2700.
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