Crude oil price begins positively – Analysis - 07-07-2022
Crude oil price opens today’s trading with clear positivity to test 97.00 barrier, and it might continue the rise to test the resistance line formed at 98.95 after breaking it previously before turning back to resume the main bearish track, as the price is affected by stochastic positivity.
In general, we will continue to suggest the overall bearish trend conditioned by the price stability below 98.95, organized inside the bearish channel that appears on the chart, noting that our next negative targets start at 92.80 and extend to 89.80.
The expected trading range for today is between 93.00 support and 98.95 resistance.
The expected trend for today: Overall bearish
Silver price loses momentum - Analysis - 07-07-2022
Silver price shows more bullish bias to head towards potential test to the key resistance 19.60, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 18.60 as a next main station.
Therefore, the bearish trend scenario will remain active as long as 19.60 level remains intact, noting that breaching 19.60 will push the price to achieve additional gains that reach 20.05 areas initially before any new negative attempt.
The expected trading range for today is between 18.90 support and 19.65 resistance.
The expected trend for today: Bearish
Gold price attempts to recover – Analysis - 07-07-2022
Gold price shows some slight bullish bias now, affected by stochastic positivity, and it might head to test the first key resistance 1765.00 before turning back to decline again.
In general, we will continue to suggest the bearish trend for the upcoming period supported by the negative pressure formed by the EMA50, conditioned by the price stability below the mentioned resistance and below 1780.25, reminding you that we are waiting to head towards 1700.00 as a next main target.
The expected trading range for today is between 1720.00 support and 1760.00 resistance.
The expected trend for today: Bearish
The USDCAD within positive pattern – Analysis - 07-07-2022
The USDCAD pair’s recent trade are confined within bullish pennant’s pattern that appears on the chart, thus, the price needs to breach 1.3070 to activate the positive effect of this pattern followed by rallying towards continuing the rise to visit 1.3200 that represents our next main target.
Therefore, we will keep our bullish overview conditioned by the price stability above 1.3015, as breaking it will press on the price to decline again and head to visit 1.2930 areas initially.
The expected trading range for today is between 1.2960 support and 1.3100 resistance.
The expected trend for today: Bullish