Crude oil price achieves strong gains – Analysis - 16-09-2021
Crude oil price begins today with new bullish bias to approach 73.30 level, and we expect to breach this level to achieve new gains that extend to 75.00, as the price moves organized inside the bullish channel that appears on the chart, getting continuous support by the EMA50.
Therefore, the bullish trend will remain dominant on the intraday and short term basis, noting that holding above 71.05 is important to achieve the suggested targets.
The expected trading range for today is between 71.50 support and 74.50 resistance.
The expected trend for today: Bullish
Silver price tests the resistance - Analysis - 16-09-2021
Silver price continues to fluctuate around the broken neckline of the head and shoulders’ pattern, and the EMA50 forms continuous negative pressure against the price, to continue suggesting the bearish trend that depends on the price stability below 23.95, reminding you that we are waiting to visit 22.90 as a next main target.
The expected trading range for today is between 23.30 support and 24.10 resistance.
The expected trend for today: Bearish
Gold price under the negative pressure – Analysis - 16-09-2021
Gold price ended yesterday below 1797.00 level, to hint heading to decline again, supported by moving below the EMA50, but we notice that stochastic shows positive signals that might assist to push the price to recover.
Therefore, this contradiction between the technical factors makes us prefer staying neutral until we get clearer signal for the next trend, noting that breaking 1786.00 will press on the price to achieve more decline and visit 1770.00 level initially, while breaching 1797.00 represents the key to reactivate the positive scenario that its first target located at 1825.15.
The expected trading range for today is between 1770.00 support and 1810.00 resistance.
The expected trend for today: Neutral
The USDCAD resumes the decline – Analysis - 16-09-2021
The USDCAD pair resumed its negative trades yesterday to approach our first waited target at 1.2600, reinforcing the expectations of continuing the bearish trend, noting that breaking the mentioned level will push the price to 1.2495 as a next negative target.
Moving below the EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 1.2720.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish