Crude oil price resumes its positive trading by today’s open to move away from 71.00 barrier, reinforcing the expectations of achieving more gains in the upcoming period, reminding you that our first target is located at 72.20, which breaching it represents the key to rally towards 74.00 as a next main station.

On the other hand, we should note that breaking 70.55 will stop the suggested rise and press on the price to start correctional bearish wave on the intraday basis.

The expected trading range for today is between 70.00 support and 73.00 resistance.

The expected trend for today: Bullish

Silver price bounced downwards clearly to start pressing on the minor bullish channel’s support line, which we believe that it forms bearish flag pattern that will push the price to achieve bearish correction for the rise measured from 23.76 to 28.74, especially after recording a third lower high recently as appears on the chart.

Therefore, the bearish bias will be expected for today, and breaking 27.70 will confirm rallying bearishly towards 26.85 areas initially, noting that failing to achieve the required break will lead the price to resume the bullish track and head towards 28.74 areas on the near term basis.

The expected trading range for today is between 27.20 support and 28.20 resistance.

The expected trend for today: Bearish

Gold price opened today’s trading with strong negativity to break the bullish channel’s support line and begins bearish correction for the rise that started from 1677.80 areas, as it begins testing 23.6% Fibonacci correction level at 1860.00, noting htat breaking this level will confirm extending the bearish wave to reach 1825.15 as a next negative target.

Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 1880.00 will stop the current negative pressure and lead the price to regain the main bullish trend again.

The expected trading range for today is between 1835.00 support and 1875.00 resistance.

The expected trend for today: Bearish

The USDCAD pair succeeded to touch our waited target at 1.2164 and finds solid resistance there, to hint possibility of witnessing bearish rebound to resume the main bearish trend, especially that stochastic provides negative signals, while the EMA50 attempts to support the price to achieve more bullish correction.

Therefore, we prefer staying neutral until we get clearer signal for the next trend, noting that breaching 1.2164 will push the price to 1.2255 as a next correctional station, while breaking 1.2125 represents negative factor that will press on the price to resume the main bearish trend that its targets begin by testing 1.2015 areas.

The expected trading range for today is between 1.2080 support and 1.2220 resistance.

The expected trend for today: Neutral