Update: Gold price presses on the support
Gold price faces negative pressure to trade below 1850.00 level, which urges caution from the upcoming trading, as the continuation of the negative pressure and breaking 1838.10 will stop the intraday positive scenario and push the price to rally to decline again, while the price needs to step above 1850.00 to resume the bullish wave that its next main target located at 1890.00.
No news for copper price – Analysis – 26-5-2022
Copper price didn’t show any move until this moment, to consolidate near the initial support 4.1800 that formed obstacle against the attempt to resume the main negative attack.
We expect to continue fluctuating within sideways range with chances to rally towards 4.4100 as a bullish correction to test the major resistance, while surrendering to the negative pressures and succeeding to decline below the current support will force it to form strong negative waves to suffer many losses by crawling towards 4.1000 and 3.9300 levels.
The expected trading range for today is between 4.2000 and 4.4000
The expected trend for today: Bearish
Platinum price tends towards the negativity – Analysis – 26-5-2022
Despite platinum price consolidation within the sideways track, represented by 980.00 resistance and 915.00 support, the major indicators provide the negative momentum to increase the chances of declining.
Therefore, we will suggest moving towards the mentioned support line, while breaking it will confirm moving to new negative track, to start targeting many negative levels that start at 910.00 and 855.00.
The expected trading range for today is between 970.00 and 915.00
The expected trend for today: Bearish
The GBPJPY still bullish – Analysis – 26-5-2022
Despite the recent weak trades, the GBPJPY pair’s main stability within the bullish channel and forming continuous support at 157.60 allows us to keep suggesting the bullish overview, to keep waiting to gather the positive momentum to assist to surpass 160.60 and reach the additional targets that might start at 161.70 and 162.40 levels.
The expected trading range for today is between 159.40 and 161.70
The expected trend for today: Bullish