Crude oil price managed to confirm breaching 73.80 level after closing the daily candlestick above it, to support the continuation of the bullish wave on the intraday and short term basis, which targets 76.10 as a next main station.

By taking a deeper look at the chart, we find that the price completed forming double bottom pattern after breaching 73.80 level, which has positive targets that extend to reach 78.90 areas.

Therefore, we expect to witness more bullish bias in the upcoming sessions supported by the EMA50, noting that breaking 73.80 and holding below it will put the price under intraday negative pressure to head towards testing 71.55 areas before any new attempt to rise.

The expected trading range for today is between 72.80 support and 76.10 resistance.

The expected trend for today: Bullish

Silver price managed to touch our first target at 23.00, noticing that the price closed the last four hours’ candlestick below it, to support the chances of continuing the decline and head towards visiting the next correctional level that reaches 22.25.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that stochastic current positivity might cause some temporary sideways fluctuation before resuming the expected bearish wave.

On the other hand, we need to take into consideration that the consolidation of 23.00 level against the current negative pressure will lead the price to attempt to recover and visit 23.70 areas again before any new attempt to decline.

The expected trading range for today is between 22.50 support and 23.30 resistance.

The expected trend for today: Bearish

Gold prices bounced downwards strongly after testing 1977.25 level in the previous sessions, to approach our first waited negative target at 1945.20, which represents 50% Fibonacci correction level for the rise measured from 1809.35 to 2081.05, which means that breaking it will push the price to achieve more bearish correction that its next target reaches 1913.15.

Therefore, our bearish overview will remain valid and active for the upcoming period, waiting to get negative motive that assists to push the price to achieve the suggested targets, reminding you that it is important to hold below 1977.25 to continue the expected decline.

The expected trading range for today is between 1940.00 support and 1970.00 resistance.

The expected trend for today: Bearish

The USDCAD pair rallied upwards strongly yesterday to move away from 1.3500 and turns to rise on the intraday basis, opening the way to achieve more gains that reach 1.3680 as a next main station.

Therefore, we expect to witness more bullish bias in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking 1.3500 will stop the positive scenario and push the price to decline again.

The expected trading range for today is between 1.3550 support and 1.3700 resistance.

The expected trend for today: Bullish