Crude oil price forms negative pattern – Analysis - 20-10-2021
Crude oil price bounced bearishly after approaching the recently recorded top at 83.85, to head towards testing 81.75 level, and by taking a deeper look at the chart, we find that the price forms double top pattern that its confirmation line meets 81.75 level, thus, breaking this level will put the price under negative pressure that targets 80.45 direct.
Therefore, we expect to witness more decline in the upcoming sessions, taking into consideration that failing to achieve the required break will lead the price to start new recovery attempts to regain the main bullish trend again.
The expected trading range for today is between 81.00 support and 83.60 resistance.
The expected trend for today: Bearish
The AUDUSD surpasses the target – Analysis - 20-10-2021
The AUDUSD pair managed to breach 0.7478 level and attempts to build support base above it, to support the chances of continuing the bullish trend on the short term and medium term basis, paving the way to head towards 0.7550 followed by 0.7615 levels as next main targets.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 0.7440 and holding below it.
The expected trading range for today is between 0.7450 support and 0.7550 resistance
The expected trend for today: Bullish
The AUDUSD surpasses the target – Analysis - 20-10-2021
The AUDUSD pair managed to breach 0.7478 level and attempts to build support base above it, to support the chances of continuing the bullish trend on the short term and medium term basis, paving the way to head towards 0.7550 followed by 0.7615 levels as next main targets.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 0.7440 and holding below it.
The expected trading range for today is between 0.7450 support and 0.7550 resistance
The expected trend for today: Bullish
Silver price reaches the target - Analysis - 20-10-2021
Silver price succeeded to reach few pips away from our waited target at 24.20, and bounced bearishly affected by stochastic negativity, which attempts to gain the positive momentum now, noting that the EMA50 continues to provide the positive support to the price.
Therefore, we believe that the chances valid to achieve additional gains that surpass the mentioned level to reach 25.05, affected by the previously completed inverted head and shoulders’ pattern, taking into consideration that the continuation of the expected bullish wave requires holding above 23.15.
The expected trading range for today is between 23.35 support and 24.20 resistance.
The expected trend for today: Bullish