Crude oil price continued to decline to reach 66.00$ barrier, noticing that the price attempts to recover and achieve some gains, to test 68.00 level now, but it falls under negative pressure formed by the EMA50, to push the price towards achieving more expected decline in the upcoming sessions.

By taking a deeper look at the chart on the longer term basis, we find that the price completed forming head and shoulders’ pattern that has negative targets that go far towards 48.50 areas initially, and extend to 30.15 after surpassing the previous level, noting that these levels represent correctional levels for the bullish wave that appears on the chart.

Therefore, we suggest the continuation of the bearish trend domination on the short term and medium term basis, taking into consideration that the continuation of the rise and breaching 69.25 will push the price to achieve additional gains and test 71.45 before any new attempt to decline.

The expected trading range for today is between 65.70 support and 69.50 resistance.

The expected trend for today: Bearish

Silver price managed to achieve our waited target at 22.13 and found solid resistance there, to show some temporary bearish bias, noticing that stochastic gains the positive momentum clearly, waiting to motivate the price to resume the bullish wave and surpass the mentioned level to head towards 23.05 as a next main target.

Therefore, we will continue to suggest the bullish trend in the upcoming sessions, depending on the price stability above 21.40, as breaking it represents negative factor that will push the price to visit 20.64 initially before determining the next trend clearly.

The expected trading range for today is between 21.40 support and 22.30 resistance.

The expected trend for today: Bullish

Gold price found solid resistance at 1928.60, to trade with clear negativity and retest the breached resistance for the bullish pennant’s pattern, affected by stochastic negativity, waiting to get positive momentum that assists to push the price to resume the main bullish wave, which its next target located at 1960.00.

The EMA50 continues to support the expected bullish trend, and breaching 1928.60 is required to ease the mission of achieving the waited target.

On the other hand, we should note that breaking 1905.00 will put the price under additional negative pressure to head towards testing the most important support at 1878.80 before any new attempt to rise.

The expected trading range for today is between 1895.00 support and 1935.00 resistance.

The expected trend for today: Bullish

The USDCAD pair couldn’t settle for long time below 1.3680, to rally upwards strongly and return to the bullish channel again, to reactivate the bullish wave and head towards achieving gains that start at 1.3860 and extend to 1.3975.

Therefore, we expect to witness more bullish bias in the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking 1.3740 will put the price under the negative pressure again, to head towards testing 1.3680 initially, which represents key level to detect the next trend, as breaking it will press on the price to turn to decline.

The expected trading range for today is between 1.3680 support and 1.3840 resistance.

The expected trend for today: Bullish