Crude oil price faces solid resistance – Analysis - 29-07-2022
Crude oil price found solid resistance at 98.25, to rebound downwards clearly and head towards retesting the breached resistance of the main bearish channel, which turns into support now at 94.90, noting that the price needs to hold above this level to keep the positive scenario active, which targets testing the mentioned resistance initially.
Stochastic shows positive signals that support the chances of rising in the upcoming sessions, noting that breaking 94.90 will stop the positive scenario and press on the price to return to the main bearish channel again.
The expected trading range for today is between 94.00 support and 98.80 resistance.
The expected trend for today: Bullish
Silver price achieves strong gains - Analysis - 29-07-2022
Silver price rallied upwards to succeed achieving our extended target at 20.00, and attempts to breach this level now to hint heading to achieve more gains in the upcoming sessions, as the next target reaches 20.50.
Therefore, we expect the continuation of the bullish bias on the intraday basis, noting that breaking 19.60 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 19.70 support and 20.60 resistance.
The expected trend for today: Bullish
Gold price hits the target – Analysis - 29-07-2022
Gold price succeeded to achieve our waited target at 1755.70, and begins today with additional bullish bias to breach this level and confirm the continuation of the correctional bullish trend, targeting 1770.00 followed by 1779.25 levels as next stations.
Therefore, we expect to witness more bullish bias within the intraday bullish channel that appears on the chart, taking into consideration that failing to breach 1770.00 will stop the bullish wave and press on the price to return to the main bearish track again.
The expected trading range for today is between 1745.00 support and 1780.00 resistance.
The expected trend for today: Bullish
The USDCAD reaches the extended target – Analysis - 29-07-2022
The USDCAD pair provided new negative trades to reach 1.2790 level, and the EMA50 continues to press negatively on the price, to reinforce the expectations of continuing the correctional bearish trend, which its next target reaches 1.2685.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.2870 and holding above it.
The expected trading range for today is between 1.2740 support and 1.2860 resistance.
The expected trend for today: Bearish