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Brent oil tests the neckline – Analysis - 22-01-2018
Brent oil price tested the neckline of the head and shoulders’ pattern that appears on the chart, waiting to break this level at 68.50 to confirm rallying for more bearish correction on the intraday basis, as our next target is located at 66.90.
Therefore, we expect the continuation of the bearish trend domination in the upcoming sessions unless the price managed to breach 70.08 level and hold above it, noting that breaching this level will push the price to achieve positive targets that reach 72.35 mainly.
Expected trading range for today is between 67.14 support and 70.08 resistance.
Expected trend for today: Bearish
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Crude oil loses momentum – Analysis - 22-01-2018
Crude oil price moves inside the correctional bearish channel that appears on the above chart, noticing that stochastic loses its positive momentum clearly to reach the overbought areas’ thresholds now, which supports the chances of continuing the bearish correction on the intraday basis, reminding you that breaking 62.80 will confirm heading towards 61.50 as a next main station.
MoreSilver gathers the positive momentum – Analysis - 22-01-2018
Silver price continues to fluctuate within sideways track, settling around 17.00, noticing that stochastic gains the positive momentum gradually to approach the oversold areas, waiting to motivate the price to provide positive trades in the upcoming sessions.
MoreGold completes positive pattern – Analysis - 22-01-2018
The above chart shows that Gold price managed to breach minor bearish channel that forms bullish flag pattern, which provides positive motive that we are waiting to assist to push the price to continue the main bullish trend, as our next main target is located at 1357.50.
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