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Crude oil covers the losses – Analysis - 09-05-2018
Crude oil price bounced upwards strongly after the sharp decline that it witnessed yesterday, to close the daily candlestick at 70.00$ barrier, which keeps the main bullish trend scenario active for the upcoming period, starting today with more rise to approach our first target at 71.00.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis conditioned by the price stability above 69.50, reminding you that breaching the first target will extend oil price gains to reach 74.00 as a next station.
Expected trading range for today is between 69.00 support and 72.50 resistance.
Expected trend for today: Bullish
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Silver within tight range – Analysis - 09-05-2018
The tight range continues to dominate Silver price trades, which fluctuates around the EMA50, to keep the price within the sideways track that appears on the chart, confined between 16.15 support and 16.80 resistance, waiting to surpass one of these levels to detect the next targets clearly, reminding you that breaking this support will push the price towards 15.49 as a next negative target, while breaching the resistance will motivate the price to attempt to recover and achieve gains that start at 17.43.
MoreGold within the sideways range – Analysis - 09-05-2018
Gold price begins today’s trading with bearish bias after testing 1316.48 level yesterday, to keep the price confined inside the sideways range that its lines represented by the mentioned resistance and 1301.20 support, and the price might head to visit this support in the upcoming sessions, affected by the negative pressure formed by the EMA50.
MoreUSDCAD breaches the resistance – Analysis - 09-05-2018
The USDCAD pair breached 1.2923 level strongly and closed the daily candlestick above it, which opens the way to extend the bullish wave on the short term basis, on its way to visit 61.8% Fibonacci correction level at 1.3128 again.
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