Crude oil price opens today’s trading with new bullish rally to surpass 76.00 barrier and opens the way to reach our main expected target at 76.95, and we suggest surpassing this level to head towards the bullish channel’s resistance at 78.60.
Therefore, the bullish trend will remain dominant on the intraday and short term basis, noting that holding above 73.30 represents key condition to continue the expected rise.
The expected trading range for today is between 75.00 support and 78.00 resistance.
The expected trend for today: Bullish
Silver price made new test to 22.90 level and bounced bearishly from there, as it gets negative signals by stochastic and the EMA50, waiting to achieve more decline today, as the targets begin by breaking 22.30 to confirm opening the way to visit 21.65 followed by 20.75 levels.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 22.90.
The expected trading range for today is between 22.10 support and 22.90 resistance.
The expected trend for today: Bearish
Gold price’s recent trades are confined within bearish flag pattern, thus, breaking 1747.00 will activate the negative effect of this pattern and push the price to resume the bearish trend, which its targets begin at 1735.00 and extend to 1692.00 after surpassing the previous level.
Therefore, the chances valid to provide new negative trads today supported by the negative pressure coming by the EMA50, reminding you that it is important to hold below 1770.00 to continue the expected decline.
The expected trading range for today is between 1730.00 support and 1765.00 resistance.
The expected trend for today: Bearish
The USDCAD pair managed to touch our first waited target at 1.2600 and attempts to break it, to support the expectations of extending the bearish wave on the intraday basis, noting that confirming the break will push the price towards 1.2495 as a next main target.
The EMA50 continues to press negatively on the price, to keep the bearish trend valid unless the price rallied to breach 1.2720 and hold above it.
The expected trading range for today is between 1.2530 support and 1.2665 resistance.
The expected trend for today: Bearish