Crude oil price attempts to consolidate above the support – Analysis - 24-05-2022
Crude oil price trades negatively to press on the key support 109.14, keeping its stability above it until now, as it gets good positive support by the EMA50 that protects the price from suffering more losses, while stochastic managed to get rid of its negative momentum and reach the oversold areas.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 113.70 as a next main station, noting that breaking 109.14 will stop the positive scenario and push the price to decline.
The expected trading range for today is between 107.50 support and 113.00 resistance.
The expected trend for today: Bullish
Silver price tests the support base - Analysis - 24-05-2022
Silver price faces intraday negative pressure to test the key support 21.70, keeping its stability above it until now, accompanied by witnessing oversold signals through stochastic, waiting to assist to push the price to rise again and head towards our main positive target at 22.67.
Therefore, we will continue to suggest the bullish trend unless breaking 21.70 and holding below it.
The expected trading range for today is between 21.50 support and 22.30 resistance.
The expected trend for today: Bullish
Gold price gathers the positive momentum – Analysis - 24-05-2022
Gold price tests the key support 1850.00 and keeps its stability above it, noticing that stochastic gathers the positive momentum clearly, waiting to motivate the price to resumet he bullish wave that targets 1890.00 as a next main station.
Therefore, the bullish trend scenario will remain valid for the upcoming period, organized inside the intraday bullish channel that appears on the chart, reminding you that it is important to hold above 1850.00 and 1838.10 levels to continue the suggested rise.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Bullish
The USDCAD attempts to recover – Analysis - 24-05-2022
The USDCAD pair managed to achieve our waited target at 1.2770 and found solid support there, to show some bullish bias now, on its way for potential test to the key resistance 1.2840, affected by stochastic positivity, noticing that the EMA50 meets the mentioned resistance to add more strength to it, to support he chances of continuing the correctional bearish scenario for the upcoming period.
Breaking 1.2770 is required to confirm rallying towards the next target that reaches 1.2695, while breaching 1.2840 will stop the expected decline and lead the price to return to the main bullish track again.
The expected trading range for today is between 1.2740 support and 1.2850 resistance.
The expected trend for today: Bearish