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Crude oil is stable – Analysis - 16-03-2018
Crude oil price settles below 61.40 level, to keep the negative pressure valid on the intraday basis, supported by the negative signal provided now by stochastic, waiting to rebound bearishly to resume the bearish trend that targets testing 60.14 level as a first station.
Therefore, the bearish trend will remain suggested in the upcoming sessions conditioned by the price stability below 61.40, reminding you that breaking the targeted level will push the price towards 58.60 on the near term basis.
Expected trading range for today is between 59.00 support and 62.65 resistance.
Expected trend for today: Bearish
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Silver under the negative pressure – Analysis - 16-03-2018
Silver price tests the bullish trend line that appears on the chart, located now at 16.35, and trades are stuck between this support and 16.56 resistance, which makes us prefer staying aside until the price confirms surpassing one of these levels to determine its next destination clearly, noting that the contradiction between the EMA50 negativity and stochastic positivity provides another reason for neutrality.
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