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Crude oil price achieves the positive targets – Analysis - 01-08-2022

Economies.com
2022-08-01 04:17AM UTC

Crude oil price managed to achieve our suggested positive targets in our previous reports and approached 100.00$ barrier, but it bounced downwards strongly to settle below 98.25, and begins to press on the bullish channel’s support line at 96.05, to hind resuming the main bearish wave, making the bearish bias suggested in the upcoming sessions, targeting 92.45 areas on the near term basis.

 

Therefore, we expect to witness negative trades today unless the price rallied to breach 98.25 and hold above it.

 

The expected trading range for today is between 93.00 support and 98.25 resistance.

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The expected trend for today: Bearish

Silver price surpasses the resistance - Analysis - 01-08-2022

Economies.com
2022-08-01 04:17AM UTC

Silver price managed to breach 20.00 and hold above it, to support the continuation of the bullish trend scenario, waiting to test 20.50 as a next target, which breaching it represents the key to rally towards 21.00 direct.

 

Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 20.00 and the most important above 19.60.

 

The expected trading range for today is between 19.80 support and 20.60 resistance.

 

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The expected trend for today: Bullish

Gold price negotiates the resistance – Analysis - 01-08-2022

Economies.com
2022-08-01 04:17AM UTC

Gold price settles at the main bearish channel’s resistance and finds difficulty to breach it, which makes us prefer to stay temporarily until we get clearer signal for the next trend, which we will get through breaching the mentioned resistance -located now at 1767.70- or breaking 1755.70 support.

 

The contradiction between the technical indicators provides another reason for neutrality, noting that breaching the mentioned resistance will push the price to achieve additional gains that start at 1779.25 and extend to 1800.00, while breaking the support represents the key to resume the main bearish wave and head to achieve negative targets that start at 1726.60.

 

The expected trading range for today is between 1740.00 support and 1780.00 resistance.

 

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The expected trend for today: Neutral

The USDCAD awaits the break – Analysis - 01-08-2022

Economies.com
2022-08-01 04:17AM UTC

The USDCAD pair resumes its negative trading to start pressing on 1.2790 level, waiting to break this level to confirm rallying towards 1.2685 that represents our next negative station.

 

The EMA50 keeps supporting the expected bearish wave, organized inside the bearish channel that appears on the chart, reminding you that holding below 1.2870 is important to achieve the waited targets.

 

The expected trading range for today is between 1.2720 support and 1.2860 resistance.

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The expected trend for today: Bearish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $68.135 (2025-07-09 06:35AM UTC)