Crude oil price crawls towards the target – Analysis - 14-01-2020
Crude oil price resumed its negative trading clearly yesterday to approach our waited target at 57.40, facing negative pressure coming by the EMA50, which supports the chances of surpassing the mentioned level and open the way to extend the bearish wave towards negative targets that reach 54.60.
Therefore, the bearish trend will remain suggested for the upcoming period unless breaching 60.90 level and holding above it.
The expected trading range for today is between 56.50 support and 59.30 resistance.
The expected trend for today: Bearish
Silver price resumes the decline – Analysis - 14-01-2020
Silver price shows negative trades now to approach our waited target at 17.60, and by taking a deeper look at the chart, we notice that the price draws head and shoulders’ pattern that might press on the price to break the mentioned level and achieve more decline in the upcoming sessions, as breaking the mentioned level represents the key to rally towards 16.96 as a next positive station.
Therefore, we suggest the continuation of the negative pressure on the intraday and short term basis unless the price managed to breach 18.38 level and hold above it.
The expected trading range for today is between 17.50 support and 18.00 resistance.
The expected trend for today: Bearish
Gold price touches the first target – Analysis - 14-01-2020
Gold price opened today’s trading with clear negativity to succeed touching our first target at 1536.50, and we believe that the way is open to continue the decline in the upcoming sessions, noting that surpassing this level will push the price to 1519.00 direct.
Therefore, the bearish trend will remain suggested for today, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1556.70 to continue the expected decline.
The expected trading range for today is between 1519.00 support and 1550.00 resistance.
The expected trend for today: Bearish
The USDCAD within sideways track – Analysis - 14-01-2020
The USDCAD pair still stuck between the next trend keys represented by 1.3015 support and 1.3092 resistance, thus, we will continue with our neutrality until the price succeeds to surpass one of these levels and detect its next destination clearly.
To review the details of the mentioned levels and the expected targets after breaching them, please check our previous report.
The expected trading range for today is between 1.2980 support and 1.3120 resistance.
The expected trend for today: Neutral