Crude oil price provided clear negative trades yesterday to reach 70.50 areas, but it rebounds bullishly to fluctuate around the broken support line of the bearish flag pattern, noticing that the EMA50 forms intraday resistance against the price, while stochastic loses its positive momentum clearly to enter the overbought areas.

Therefore, these factors encourage us to suggest the decline again and head to achieve our negative targets that start at 70.00 and go further towards 67.04 after breaking the previous level, noting that breaching 73.73 will stop the expected decline and lead the price to build bullishly wave on the intraday and short-term basis.

The expected trading range for today is between 71.70 support and 73.70 resistance

The expected trend for today: Bearish

Silver price continues to decline to gradually approach our waited negative target at 22.25, affected by the previously completed head and shoulders’ pattern, supported by the negative pressure formed by the EMA50.

Note that breaking the targeted level will extend the bearish wave and open the way to head towards 21.75 followed by 21.35 levels as next negative stations, while breaching 23.00 will stop the expected decline and lead the price to start new recovery attempts on the intraday basis.

The expected trading range for today is between 22.20 support and 22.90 resistance.

The expected trend for today: Bearish

Gold price ended yesterday below 2016.90 level, to confirm the continuation of the correctional bearish trend domination on the intraday basis, opening the way to head towards 1977.46 that represent sour next negative station, noting that the EMA50 presses negatively on the price to support the continuation of the expected decline.

The bearish channel continues to organize the suggested bearish wave, noting that breaching 2016.90 followed by 2025.20 levels will stop the negative scenario and push the price to recover and target 2065.70 areas again.

The expected trading range for today is between 1990.00 support and 2025.00 resistance.

The expected trend for today: Bearish

The USDCAD pair surpassed 1.3500 level to reach 1.3540 level, but it ended yesterday with clear negativity to attack this level, starting today with more decline to settle below it, which hints heading to turn to decline, but we notice that the technical indicators provide positive signals that might assist to push the price to recover again.

Therefore, we prefer to stay aside until the price confirms its situation according to 1.3500 level, noting that holding below it will push the price to continue the decline and head towards 1.3425 followed by 1.3350 levels as main negative stations, while stepping above it will reactivate the positive scenario that its next target located at 1.3605.

The expected trading range for today is between 1.3420 support and 1.3550 resistance.

The expected trend for today: Neutral