Crude oil price achieves the negative targets – Analysis - 16-08-2022
Crude oil price traded with strong negativity yesterday to achieve our targets -suggested in our previous report- and reach the previously recorded low at 86.36, noticing that the price attempts to recover now, but we suggest the continuation of the negative pressure supported by the EMA50, to head towards visiting 85.00 as a next main station.
Therefore, the bearish trend will remain expected in the upcoming sessions unless the price rallied to breach 89.60 and hold above it.
The expected trading range for today is between 85.00 support and 90.00 resistance.
The expected trend for today: Bearish
Silver price tests the support base - Analysis - 16-08-2022
Silver price provided clear negative trades in the previous sessions to test the key support 20.00, noticing that stochastic got rid of its negative momentum to reach the oversold areas, waiting to assist to push the price to rise again and head towards our positive targets that start at 21.20.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 21.20.
The expected trading range for today is between 19.90 support and 20.80 resistance.
The expected trend for today: Bullish
Gold price under the negative pressure – Analysis - 16-08-2022
Gold price faced strong negative pressure yesterday to test the key support 1779.25, noticing that the price kept its stability above it, accompanied by witnessing clear positive signals now through stochastic, waiting to motivate the price to resume the positive trades to visit 1802.80 initially.
Therefore, our overall bullish overview will remain valid, reminding you that it is important to hold above 1779.25 to achieve the suggested targets.
The expected trading range for today is between 1770.00 support and 1800.00 resistance.
The expected trend for today: Bullish
The USDCAD achieves strong gains – Analysis - 16-08-2022
The USDCAD pair rallied upwards sharply yesterday after breaching 1.2780 level, to surpass 1.2870 level and open the way to achieve more expected gains in the upcoming sessions, waiting to visit 1.2955 as a next positive target.
Therefore, we expect to witness more rise on the intraday basis supported by moving above the EMA50, noting that breaking 1.2870 will stop the positive scenario and press on the price to turn to decline.
The expected trading range for today is between 1.2830 support and 1.2980 resistance.
The expected trend for today: Bullish