Crude oil price approaches the resistance – Analysis - 12-05-2021
Crude oil price traded with clear positivity yesterday to reach the key resistance 65.60, and the price needs to breach this level to ease the mission of rallying towards our next positive target that reaches 67.95.
Therefore, we will keep our bullish overview that gets continuous support by the EMA50 unless breaking 64.35 followed by 63.65 levels and holding below them.
The expected trading range for today is between 64.35 support and 67.00 resistance.
The expected trend for today: Bullish
Silver price resumes the rise - Analysis - 12-05-2021
Silver price continues to crawl upwards to approach the bullish channel’s resistance line, getting continuous positive support by the EMA50, to keep our bullish overview that targets 28.25 followed by 29.00 levels mainly.
Holding above 26.60 is important to continue the expected rise, as breaking it will press on the price to test 25.50 areas before any new attempt to rise.
The expected trading range for today is between 26.00 support and 28.25 resistance.
The expected trend for today: Bullish
Gold price keeps its positive stability – Analysis - 12-05-2021
Gold price faced temporary negative pressure yesterday to attack 1825.00 level, but it bounced bullishly to settle around 1838.00 level again, to keep the bullish trend scenario valid and active on the intraday and short term basis, which targets 1855.00 followed by 1865.00 levels as next stations.
The EMA50 keeps supporting the suggested bullish wave, which will remain valid conditioned by the price stability above 1825.00.
The expected trading range for today is between 1820.00 support and 1855.00 resistance.
The expected trend for today: Bullish
The USDCAD within sideways track – Analysis - 12-05-2021
The USDCAD pair fluctuates within sideways track since yesterday, settling around 1.2100 barrier, and it keeps moving inside the bearish channel that appears on the chart, while the EMA50 provides continuous negative support.
Therefore, the bearish trend scenario will remain valid for the upcoming period unless breaching 1.2170 level and holding above it, noting that our next target is located at 1.2000.
The expected trading range for today is between 1.2030 support and 1.2150 resistance.
The expected trend for today: Bearish