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Brent oil price breaks the support – Analysis - 13-09-2019
Brent oil price broke 59.93 level strongly and closed the daily candlestick below it, to confirm turning to decline, expecting to head to target 57.85 followed by 56.23 levels as next main stations.
Therefore, the bearish bias will be suggested in the upcoming sessions supported by moving below the EMA50, noting that breaching 59.93 and holding above it again will reactivate the bullish trend scenario that its first target located at 62.92.
The expected trading range for today is between 57.00 support and 60.70 resistance.
The expected trend for today: Bearish
Crude oil price hits the first target – Analysis - 13-09-2019
Crude oil price settles at 50% Fibonacci correction level at 54.60, and the price faces negative pressure that makes us suggest breaking the mentioned level and extend the bearish wave on the short term basis, noting that confirming breaking 54.60 followed by 53.90 levels will push the price to 51.80 as a next main station.
MoreSilver price settles at the support – Analysis - 13-09-2019
Silver price continues to fluctuate at the main bullish channel’s support line that appears on the chart and consolidates above it, accompanied by stochastic approach to provide positive overlapping signal on the four hours’ time frame, which forms positive motive that we expect to push the price to rise in the upcoming sessions and resume trading inside the mentioned bullish channel.
MoreGold price completes a positive pattern – Analysis - 13-09-2019
Gold price completed forming falling wedge pattern that its signs appear on the chart, to trade with clear positivity yesterday, and it returns to fluctuate near the main bullish trend line that appears on the chart, accompanied by stochastic reach to the oversold areas.
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