Crude oil price covers its losses – Analysis - 20-01-2023
Crude oil price settles around 80.75 after the strong rise that it witnessed yesterday, and we expect the continuation of the bullish bias to test 81.60 level as a next positive station, making the bullish bias suggested in the upcoming sessions.
Note that breaching the mentioned level will extend the bullish wave towards 82.70 followed by 84.25 levels as next positive stations, while breaking 80.20 will press on the price to decline and test 78.90 initially.
The expected trading range for today is between 79.25 support and 82.80 resistance.
The expected trend for today: Bullish
Silver price is recovering - Analysis - 20-01-2023
Silver price surpassed 23.85 level and settled above it, to stop yesterday’s suggested decline and heads towards achieving expected decline in the upcoming sessions, targeting visiting 24.55 initially.
Therefore, we expect to witness more bullish bias on the intraday basis, noting that breaking 23.80 will stop the positive scenario and press on the price to decline again.
The expected trading range for today is between 23.50 support and 24.50 resistance.
The expected trend for today: Bullish
Gold price breaches the resistance – Analysis - 20-01-2023
Gold price continued to rise to breach 1928.60 level and close the daily candlestick above it, to exit the sideways range and activate the positive scenario on the intraday basis, opening the way to achieve new gains that reach 1950.00 as a next station.
Therefore, the bullish bias will be suggested for the upcoming period supported by the EMA50, noting that failing to hold above 1928.60 will put the price under intraday negative pressure and head towards testing 1900.00 initially.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
The USDCAD resumes the decline – Analysis - 20-01-2023
The USDCAD pair bounced bearishly after testing 1.3500 level in the previous sessions, to resume the expected bearish trend on the intraday basis, on its way to visit 1.3350 mainly.
Breaking 1.3435 will ease the mission of achieving the waited target, while the continuation of the bearish wave depends on the price stability below 1.3500.
The expected trading range for today is between 1.3370 support and 1.3510 resistance.
The expected trend for today: Bearish