Crude oil price crawls upwards – Analysis - 15-10-2021
Crude oil price shows more bullish bias to approach 82.00$ barrier, getting continuous positive support by the EMA50, which supports the chances of achieving more gains in the upcoming sessions, noting that our next target rises to 83.00.
Therefore, the bullish trend will remain dominant on the intraday and short term basis, taking into consideration that breaking 80.80 might press on the price to target the bullish channel’s support line around 77.60 before any new attempt to rise.
The expected trading range for today is between 80.50 support and 83.50 resistance.
The expected trend for today: Bullish
Silver price exits the Bearish channel - Analysis - 15-10-2021
Silver price surpassed the bearish channel’s resistance and settled above it, to start bullish wave that its targets begin at 24.20, noticing that the price completed forming inverted head and shoulders’ pattern that appears on the chart, which has positive targets that extend to reach 25.00 areas.
Therefore, we expect to witness more rise in the upcoming sessions, supported by moving above the EMA50, noting that the continuation of the bullish wave requires holding above 23.15.
The expected trading range for today is between 23.15 support and 24.00 resistance.
The expected trend for today: Bullish
Gold price holds below the resistance – Analysis - 15-10-2021
Gold price showed new attempts to breach 1797.00 but it keeps its consolidation below it, to keep the chances valid to resume the expected bearish trend for the upcoming period, waiting to visit 1770.00 as a next main target.
Stochastic provides negative signals that support the expected decline, noting that breaching 1797.00 will lead the price to achieve new gains that reach 1825.15.
The expected trading range for today is between 1785.00 support and 1810.00 resistance.
The expected trend for today: Bearish
The USDCAD achieves the target – Analysis - 15-10-2021
The USDCAD pair managed to achieve the waited target at 1.2365 and attempts to break it, to support the chances of extending the correctional bearish wave, which targets 1.2230 as a next negative station.
Therefore, we will continue to suggest the bearish trend for the upcoming period, which gets continuous support by the EMA50, noting that the continuation of the expected decline requires holding below 1.2495.
The expected trading range for today is between 1.2280 support and 1.2410 resistance.
The expected trend for today: Bearish