Crude oil price confirmed breaking 77.53$ and settled with a daily close below it, and by taking a deep look at the chart, we find that the price completed forming head and shoulders’ pattern that supports the chances of continuing the correctional bearish trend on the intraday basis, noting that this pattern’s targets surpass 75.53$ to reach 73.90$ areas.

Therefore, we will continue to suggest the bearish trend for the upcoming period, taking into consideration that breaching 77.53$ followed by 78.25$ levels will stop the negative scenario and lead the price to regain the main bullish trend again.

The expected trading range for today is between 75.00$ support and 78.00$ resistance

Trend forecast: Bearish

Silver price managed to breach 30.63$ level and hold with a daily close above it, which supports the expectations of continuing the bullish trend within the bullish channel that appears on the chart, and the way is open to head towards the main waited target at 31.63$.

The positive support provided by the EMA50 reinforces the expectations of continuing the bullish trend, noting that breaking 30.63$ will turn the intraday track to decline to head towards visiting 30.00$ and might extend to 29.63$ areas.

The expected trading range for today is between 30.60$ support and 31.50$ resistance.

Trend forecast: Bullish

Gold price rallied upwards clearly yesterday to surpass our waited target at 2742.00$, noticing that the price begins today with more rise to attempt to breach the bullish channel’s resistance line, which supports our expectations of continuing the bullish trend on the intraday and short-term basis, noting that the next target reaches the recently recorded historical high at 2790.00$.

Therefore, we expect to witness more bullish bias in the upcoming sessions, noting that breaking 2740.00$ will stop the bullish wave and push the price to decline and test the bullish channel’s support line around 2700.00$ before any new attempt to rise.

The expected trading range for today is between 2735.00$ support and 2770.00$ resistance.

Trend forecast: Bullish

The USDCAD price faced new negative pressure yesterday to break the bullish channel’s support line and settle below it, to activate the negative scenario on the intraday basis and head towards achieving bearish correction that its first target located at 1.4220$.

Therefore, the bearish bias will be expected for today, taking into consideration that breaching 1.4385$ will stop the bearish wave and lead the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 1.4260$ support and 1.4390$ resistance

Trend forecast: Bearish