Gold price succeeded to achieve our waited target at 1721.65 and bounced upwards quickly to settle near 1746.40 again, and as long as the price is below this level, our bearish overview will remain valid for the upcoming period, supported by the negative pressure formed by the EMA50, reminding you that our next target extends to 1701.60.
The EURUSD pair rallied upwards strongly to move away from 1.0285, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to achieve our first waited target at 1.0400, noting that breaching it will push the price to 1.0515 as a next positive target.
Crude oil price declined sharply to break 79.20 level and open the way to resume the bearish wave on the intraday basis, on its way to achieve more decline that targets 76.05 level as a next main station, to keep the bearish bias suggested in the upcoming sessions unless breaching 79.20 and holding above it.
Best Buy's stock (BBY) surged in the intraday levels after third-quarter profits, earnings, and sales passed estimates, with the stock rallying 12.78% in the last session, or 9.05 points, settling at 79.88, with trading volumes surpassing 17.5 million shares, above 10-day averages of 4.4 million shares.
Technically, the stock found support after leaning on the 50-day SMA support, while piercing the downward short-term trend line, with positive signals from the RSI after reaching oversold levels.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 85.58, provided the support of 72.18 holds on.
Expected trend for today: Bullish