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Brent futures extend gains - Analysis - 02-08-2023
Brent futures continued to advance in the short term, buoyed by continuous trading above the 50-day SMA, with positive signals from the RSI, despite reaching overbought levels, and amid the dominance of the upward correctional trend in the short term.
Therefore we expect more gains for Brent futures in upcoming intraday levels trading, targeting the near and pivotal resistance of 87.25.
Expected trading range for today is between the 84.20 support and the 87.25 resistance.
Expected trend for today: Bullish
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USD/CAD alights on strong resistance region - Analysis - 02-08-2023
USD/CAD rose in the intraday levels, testing thereafter the pivotal resistance of 1.3300, while touching the resistance of the 50-day SMA, as the pair also tested the downward secondary trend line in the short term, with negative signals from the RSI after reaching overbought levels.
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