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Crude oil price attacks the recorded low – Analysis - 17-08-2022
Crude oil price presses negatively on 86.36 level and attempts to confirm breaking it, reinforcing the expectations of continuing the bearish trend, paving the way to achieve more negative targets that start at 85.00 and extend to 84.00.
Therefore, the bearish trend scenario will remain active for the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that holding below 87.70 represents initial condition to continue the expected decline.
The expected trading range for today is between 84.50 support and 88.20 resistance.
The expected trend for today: Bearish
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Silver price continues to fluctuate - Analysis - 17-08-2022
Silver price didn’t show any strong move in the previous sessions, and continues to move at 20.00 level, thus, no change to the bullish trend scenario that depends on the price stability above this level, waiting to get positive motive that assists to push the price to resume the bullish wave that targets 21.20 mainly.
MoreGold price breaks the support – Analysis - 17-08-2022
Gold price ended yesterday below 1779.25 level, to fall under expected negative pressure in the upcoming sessions, targeting visiting 1755.25 mainly.
MoreThe USDCAD under the negative pressure – Analysis - 17-08-2022
The USDCAD pair faced strong negative pressure to break 1.2870 and settles below it, which pushes the price to attempt to return to the correctional bearish track again, but we notice that the technical indicators provide positive signals that might assist to push the price to rise again.
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