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Brent oil tests the support base – Analysis - 07-03-2018
Brent oil price fluctuates around 65.40 level and keeps its stability above it, as the EMA50 meets this level to add more strength to it, while stochastic gains the positive momentum clearly, which forms positive factor tha we are waiting to motivate the price to continue rising.
Therefore, we will keep our bullish overview for the upcoming sessions conditioned by the price stability above 64.00 level, noting that the waited targets begin at 66.54 followed by 67.68.
Expected trading range for today is between 64.00 support and 67.68 resistance.
Expected trend for today: Bullish
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Crude oil gathers the positive momentum – Analysis - 07-03-2018
Crude oil price found difficulty to hold above 62.65 level, to show some bearish bias and test the EMA50 that protects the price from suffering more losses, noticing that stochastic reaches the oversold areas and approaches to provide positive overlapping signal on the four hours’ time frame.
MoreSilver surpasses the initial resistance – Analysis - 07-03-2018
Silver price succeeded to breach 16.65 level and settled above it, which supports our positive overview that targets 17.43 level as a next station, noting that stochastic continues to provide the positive signals on the daily time frame.
MoreGold hits the first target – Analysis - 07-03-2018
Gold price settles around 1335.40 level that represents our first suggested target in our recent reports, and the price is attempting to breach this level by today’s opening, but it faces good resistance formed by the previously broken support of the bullish channel that appears on the chart, which shows the price need for enough positive momentum to breach the mentioned resistance.
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