Crude oil price hits the extended target – Analysis - 05-08-2022
Crude oil price managed to achieve our next waited target at 87.40, and we expect the continuation of the bearish trend domination within the bearish channel that appears on the chart to head towards achieving additional negative targets that extend to 85.90 followed by 84.55.
The EMA50 supports the expected decline, which will remain valid conditioned by the price stability below 91.15, as breaching this level will lead the price to start correctional bullish wave on the intraday basis.
The expected trading range for today is between 85.90 support and 90.00 resistance.
The expected trend for today: Bearish
Silver price within positive pattern - Analysis - 05-08-2022
Silver price’s recent trades are confined within bullish flag pattern that appears on the chart, thus, breaching 20.35 will activate the positive effect of this pattern and push the price to continue the rise on the intraday and short term basis, paving the way to achieve additional gains that start by visiting 21.00 barrier.
Therefore, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that it is important to hold above 19.60 to achieve the waited targets.
The expected trading range for today is between 19.90 support and 20.80 resistance.
The expected trend for today: Bullish
Gold price approaches the target – Analysis - 05-08-2022
Gold price shows additional positive trades to approach our waited target at 1802.80, organized inside the intraday bullish channel that appears on the chart, which supports the chances of breaching the mentioned level to achieve additional gains that reach 1831.95.
Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50, noting that the continuation of the bullish wave requires holding above 1779.25 and the most important above 1755.70.
The expected trading range for today is between 1775.00 support and 1810.00 resistance.
The expected trend for today: Bullish
The USDCAD negotiates the resistance – Analysis - 05-08-2022
The USDCAD pair returns to test the key resistance 1.2870, accompanied by witnessing clear negative signals by stochastic, waiting to motivate the price to resume the bearish wave that targets 1.2790 initially.
On the other and, we should note that breaching 1.2870 and holding above it will stop the suggested negative scenario and lead the price to turn to rise and achieve gains that start by visiting 1.2950 areas.
The expected trading range for today is between 1.2790 support and 1.2930 resistance.
The expected trend for today: Bearish