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Crude oil price awaits more rise – Analysis - 04-03-2024

Economies.com
2024-03-04 03:47AM UTC

Crude oil price settles around 80.00$ barrier and keeps its stability above it, to support he chances of continuing the expected bullish trend on the intraday and short-term basis, organized inside the bullish channel that appears on the chart, noting that our next targets begin at 81.55 and extend to 82.70.

 

Therefore, we are waiting for more expected rise in the upcoming sessions, noting that breaking the minor support 79.70 might force the price to achieve temporary decline to test key support areas that start at 78.70 and might reach 78.25 before any new attempt to rise.

 

The expected trading range for today is between 78.80 support and 81.80 resistance

 

The expected trend for today: Bullish

Silver price surpasses the positive target - Analysis - 04-03-2024

Economies.com
2024-03-04 03:47AM UTC

Silver price rallied upwards strongly to breach 23.00 and settle above it, reinforcing the expectations of continuing the domination of the bullish trend on the intraday basis, opening the way to achieve new gains that reach 23.70.

 

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, it might be preceded by some temporary sideways fluctuation affected by stochastic negativity, waiting to gather positive momentum that assist to achieve the new target, noting that breaking 23.00 will stop the positive scenario and force the price to turn to decline on the intraday basis.

 

The expected trading range for today is between 22.80 support and 23.50 resistance.

 

The expected trend for today: Bullish

Gold price achieves strong gains – Analysis - 04-03-2024

Economies.com
2024-03-04 03:47AM UTC

Gold price ended last Friday with strong positivity, and approached our second waited target at 2095.00, and we suggest the continuation of the positive trades affected by the previously completed inverted head and shoulders’ pattern, to achieve additional gains that reach the historical high recorded at 2144.60.

 

Therefore, the bullish trend will remain valid and active in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking 2065.70 will stop the bullish rally and push the price to achieve some bearish correction.

 

The expected trading range for today is between 2070.00 support and 2100.00 resistance.

 

The expected trend for today: Bullish

The USDCAD hits the first target – Analysis - 04-03-2024

Economies.com
2024-03-04 03:46AM UTC

The USDCAD pair managed to touch our first target at 1.3600 and bounced downwards temporarily to test 1.3550 barrier, noticing that the EMA50 provides the positive support to the price and carries it from below, while stochastic gains the positive momentum clearly and approaches to overlap positively now.

 

Therefore, we believe that the chances valid to resume the expected bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that our next target extends to 1.3665, taking into consideration that breaking 1.3510 will stop the bullish wave and push the price to start bearish correction on the intraday basis.

 

The expected trading range for today is between 1.3500 support and 1.3640 resistance.

 

The expected trend for today: Bullish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $62.594 (2025-08-20 14:05PM UTC)