Crude oil price leans on the bullish channel’s support line and attempts to resume the bullish wave, noticing that the EMA50 continues to support the price from below, while stochastic provides clear positive signals now.
Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 81.75 as a next main station, while achieving it requires holding above 78.40.
The expected trading range for today is between 77.80 support and 80.80 resistance.
The expected trend for today: Bullish
Silver price provided slight positive trades but it returns to decline now, motivated by stochastic negativity, waiting for more bearish bias to resume the bearish trend that its targets begin by breaking 22.00 to open the way to head towards 21.40.
The EMA50 supports the expected decline, reminding you that it is important to hold below 22.60 to achieve the suggested targets.
The expected trading range for today is between 21.70 support and 22.60 resistance.
The expected trend for today: Bearish
Gold price tested 1797.00 level and keeps its stability below it, noticing that this level represents the broken neckline of the double top pattern that appears on the chart, accompanied by stochastic reach to the overbought areas, which supports the chances of declining to resume the negative trades again.
Therefore, the bearish trend scenario will remain suggested in the upcoming sessions conditioned by the price stability below 1797.00, noting that our next target is located at 1770.00.
The expected trading range for today is between 1770.00 support and 1805.00 resistance.
The expected trend for today: Bearish
The USDCAD pair couldn’t manage to surpass 1.2725 level, to decline strongly and head towards key turn to the trend, as we notice that the price draws head and shoulders’ pattern that might press on the price to suffer more losses on the intraday and short term basis.
Therefore, the bearish bias will be suggested in the upcoming sessions unless the price rallied to breach 1.2725 and hold above it, noting that the expected targets begin at 1.2590 and extend to 1.2480 after breaking the previous level.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish