Crude oil price approaches the first target – Analysis - 06-04-2021
Crude oil price declined strongly yesterday to approach our first waited negative target at 57.25, showing some bullish bias affected by stochastic positivity, noticing that the EMA50 continues to press negatively on the price, waiting to resume the bearish trend that its targets extend to reach 54.85.
Therefore, we will keep our bearish overview unless the price rallied to breach 59.85 followed by 60.65 levels and holding above them.
The expected trading range for today is between 57.60 support and 60.65 resistance.
The expected trend for today: Bearish
Silver price is stable - Analysis - 06-04-2021
Silver price shows sideways trading, settling around 24.85, fluctuating at the intraday bearish channel’s resistance that appears on the chart, waiting to resume the bearish bias that targets 22.90 as a next main station.
Until now, the bearish trend scenario still valid and active as long as 25.50 level remains intact, as breaching this level will stop the expected correctional decline and lead the price to regain the main bullish trend again.
The expected trading range for today is between 24.20 support and 25.50 resistance.
The expected trend for today: Bearish
Gold price exits the channel – Analysis - 06-04-2021
Gold price confirmed breaching the bearish channel’s resistance, showing new positive trades by today’s open, which leads the price to achieve more expected gains on the intraday and short term basis, on its way to visit 1765.00 as a next main target.
The EMA50 supports the suggested positive scenario, which will remain valid unless we witnessed clear break and hold below 1709.00.
The expected trading range for today is between 1715.00 support and 1760.00 resistance.
The expected trend for today: Bullish
The USDCAD gathers the positive momentum – Analysis - 06-04-2021
The USDCAD pair faced new negative pressure to test the key support 1.2525, noticing that the price begins to rebound bullishly from there, accompanied by witnessing positive signals by stochastic, waiting to resume the recently suggested bullish trend scenario, which targets 1.2700 as a next main station.
On the other hand, we should note that breaking 1.2525 will stop the positive scenario and press on the price to return to the main bearish track again.
The expected trading range for today is between 1.2480 support and 1.2600 resistance.
The expected trend for today: Bullish