Crude oil price faces intraday negative pressure – Analysis - 11-01-2022
Crude oil price provided clear negative trades yesterday and attacked the bullish channel’s support line, but we notice that the recent decline confined inside bullish flag pattern, and the price breaches this pattern’s resistance now, to provide positive signals to head to resume the main bullish trend, and we need to breach 79.80 to confirm the continuation of the rise towards 81.75 as a next main station.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 78.00 and holding below it.
The expected trading range for today is between 77.50 support and 80.40 resistance.
The expected trend for today: Bullish
Silver price retests the neckline - Analysis - 11-01-2022
Silver price continues to rise to retest the broken neckline of the triple top pattern at 22.60, and the EMA50 meets this resistance to add more strength to it and keeps the chances valid to continue the expected negative scenario for the upcoming period, waiting to head towards 22.00 initially.
Note that breaching 22.60 will lead the price to achieve more gains and head to test 23.15 areas mainly.
The expected trading range for today is between 22.00 support and 22.75 resistance.
The expected trend for today: Bearish
Gold price breaches the resistance – Analysis - 11-01-2022
Gold price breached 1797.00 level clearly and closed the daily candlestick above it, to stop the recently suggested negative scenario and turn to rise, on its way to visit 1825.15 level as a first main station.
Therefore, we expect to witness more bullish bias in the upcoming sessions unless breaking 1797.00 and holding below it.
The expected trading range for today is between 1790.00 support and 1825.00 resistance.
The expected trend for today: Bullish
The USDCAD draws the negative pattern – Analysis - 11-01-2022
The USDCAD pair completed forming the head and shoulders’ pattern, waiting to break the neckline at 1.2620 to activate the negative effect of this pattern followed by rallying towards our negative targets that start by surpassing 1.2590 to open the way to head towards 1.2480.
Stochastic provides negative signals now to support the chances of achieving the required break, to continue suggesting the bearish trend on the intraday basis unless breaching 1.2725 and holding above it.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish