Natural gas price prepares for new decline – Analysis – 20-3-2023
Natural gas price faced new negative pressures recently caused by stochastic, to force it to renew the pressure on 2.400 support line and postpone the correctional bullish rebound for now.
Note that succeeding to break the current support and holding below it will force it to suffer additional losses that might start by targeting 2.000 followed by extending losses towards 1.550, to form the next main target for the current trades.
The expected trading range for today is between 2.750 and 2.000
The expected trend for today: Bearish
The EURJPY gathers its negative strength – Analysis – 20-3-2023
The EURJPY pair started to gather the negative momentum by consolidating below the MA55 that forms solid barrier at 142.30, in addition to stochastic approach to 20 level as appears on the chart.
The mentioned factors support the continuation of the negativity, allowing us to wait to break 140.25 and hold below it to activate the bearish track again, expecting to reach the negative stations at 139.00 and 138.20.
The expected trading range for today is between 141.00 and 139.55
The expected trend for today: Bearish
The GBPJPY surrenders to the indicators’ negativity – Analysis – 20-3-2023
The GBPJPY pair kept its negative consolidation recently below the MA55, to form additional barrier at 162.30 in order to reinforce the previously suggested bearish bias domination, noticing that the price fluctuates near the first negative target at 160.20, while getting more negative momentum by the major indicators will increase the chances of reaching the additional stations that might start at 159.70 followed by reaching the additional support at 158.60.
The expected trading range for today is between 161.50 and 159.70
The expected trend for today: Bearish
Platinum price needs new positive momentum – Analysis – 20-3-2023
Platinum price didn’t achieve any new positive gain until this moment, to provide sideways fluctuation by leaning near 970.00, affected by the contradiction between stochastic and the frequent stability of 50% Fibonacci correction level at 950.00.
These factors confirm the domination of the sideways bias for now until gathering the positive momentum to ease the mission of pressing on 1005.00, which surpassing it will open the way to record many gains, targeting 1040.00 as a next main station.
The expected trading range for today is between 965.00 and 1005.00
The expected trend for today: Bullish