Natural gas prices held steady above the support of the upward channel at $3.950, benefiting from the Stochastic indicator’s exit from overbought saturation levels and rushing anew towards $4.180.

A breach of the $4.180 barrier would open the door for additional targets, including $4.280 and $4.450.

Expected trading range for today is between $4.050 and $4.280.

Trend forecast today: Bullish 

Intraday Trading:

After being dominated by narrow sideways trading at intraday levels, the Euro vs Dollar pair has built positive momentum aimed at attacking the key, nearby resistance level at 1.0945. This move is supported by the pair trading above its 50-period simple moving average and positive RSI signals, although the RSI has reached overbought levels, which may hinder or delay a breakthrough.

Market Context:

This development comes amid the dominance of the primary uptrend and the pair trading within parallel price channels on the short term.

Outlook:

We are focused on attacking the mentioned resistance at 1.0945. If the pair manages to break through, the next immediate target will be 1.1030. However, a break below the support level at 1.0820 would halt the upward move and increase the likelihood of a decline.

Intraday Trading:

Oil is advancing in intraday trading, boosted by trading above its 50-day simple moving average.

The RSI is showing positive signals despite reaching overbought levels that could limit further gains.

Technical Outlook:

The recent surge confirmed oil’s breakout above the ceiling of a descending price channel that had previously capped its short-term movement.

This move positions oil to attack the neckline of a bullish pattern in formation – the double bottom.

Bullish Scenario:

We expect further upward movement, targeting the key resistance level at $70.40.

This bullish scenario remains intact as long as the support at $66.40 holds; a break below this level could halt the upward corrective wave.

Intraday Trading:

Gold is currently trading within a narrow range of sideways movements at intraday levels.

It is aiming to build positive momentum that could help it surpass the psychological barrier at $3,000, a level it touched during last Friday’s session.

The price also managed to shake off the bullish exhaustion, as indicated by the RSI signals.

Next Price Target:

The next target is set at $3,055, according to the short-term symmetrical triangle pattern.

This target comes amid strong control by the primary uptrend and price trading in line with the trendline.

Positive Scenario:

The bullish scenario hinges on the price remaining above the support level at $2,950.

A break below this level could trigger downward pressure and potentially initiate a corrective wave that may take some time to unfold.