Natural gas price continues to crawl negatively – Analysis – 2-2-2023
Natural gas price renewed the negative crawl, surrendering to the main stability within the bearish channel and the negative momentum coming by the major indicators, to settle near 2.500, while we will keep waiting to target the bearish channel’s support line at 2.180, noting that that breaking this support will force it to move to new negative track and suffer additional losses by moving towards 1.500 direct, which forms strong historical support line.
The expected trading range for today is between 2.750 and 2.180
The expected trend for today: Bearish
The EURJPY fluctuates below the barrier – Analysis – 2-2-2023
The EURJPY pair repeated the weak sideways trades to settle below the additional barrier 142.00, which allows us to keep the bearish overview, reminding you that it is important to gather the negative momentum to ease the mission of declining towards the initial negative stations represented by 140.80 and 140.25.
The expected trading range for today is between 142.00 and 140.25
The expected trend for today: Bearish
The GBPJPY continues to decline – Analysis – 2-2-2023
The GBPJPY pair continued to provide negative trades, confirming its surrender to the domination of the main bearish bias, to touch 158.88 level, while stochastic approach from 20 level will increase the chances of gathering the additional negative momentum, to manage to break 158.60 support line and open the way to record more negative targets near 157.60 and 156.10.
On the other hand, failing to decline below 158.60 level will force the price to form new sideways trades, with chances of providing temporary correctional bullish rebound that might push it to reach 160.25 and 161.00.
The expected trading range for today is between 160.25 and 157.60
The expected trend for today: Bearish
Platinum price continues to postpone the decline – Analysis – 2-2-2023
Platinum price postpone the negative attack by providing new close above the moving average 55, to form new support at 1000.00, affected by stochastic positivity that settles now above 50 level, to extend trades towards 1015.00.
We expect to form more sideways fluctuation, while the main stability below 1040.00 resistance forms major factor to reinforce the chances of declining in the medium term period, reminding you that the negative targets are located near 985.00 followed by 965.00.
The expected trading range for today is between 1030.00 and 1000.00
The expected trend for today: Bearish