Crude oil price hits the target – Analysis - 16-05-2022
Crude oil price succeeded to achieve our waited target at 109.15 and found solid resistance there, to start today with clear decline and head towards starting expected bearish wave on the intraday basis, targeting testing 104.60 again.
Therefore, the bearish bias will be suggested for today unless breaching 109.15 and holding above it, as breaching this level will lead the price to achieve additional gains that reach 113.70, while breaking 104.60 will press on the price to suffer additional losses on the intraday and short term basis.
The expected trading range for today is between 103.50 support and 109.15 resistance.
The expected trend for today: Bearish
Silver price attempts to recover - Analysis - 16-05-2022
Silver price provided positive trades to test 21.00 level, noticing that stochastic lost its positive momentum to start providing negative signals now, which supports the chances of resuming the expected bearish trend on the intraday and short term basis, which its next targets extend to reach 19.75 areas.
Breaking 20.70 will ease the mission of achieving the suggested target, while the continuation of the bearish wave requires holding below 21.65.
The expected trading range for today is between 20.50 support and 21.30 resistance.
The expected trend for today: Bearish
Gold price keeps declining – Analysis - 16-05-2022
Gold price continues to decline, and attempted to surpass 1800.00 barrier, reinforcing the expectations of continuing the bearish trend, organized inside the bearish channel that appears on the chart, supported by the EMA50 that continues to press negatively on the price, reminding you that our next target is located at 1780.25.
Holding below 1850.00 is important to continue the suggested bearish wave, as breaching it will lead the price to turn to rise and start correctional bullish wave on the intraday basis.
The expected trading range for today is between 1785.00 support and 1825.00 resistance.
The expected trend for today: Bearish
The USDCAD tests the channel’s support line – Analysis - 16-05-2022
The USDCAD pair faced strong negative pressure in the previous sessions to touch the bullish channel’s support line that appears on the chart, noticing that the price rebounds upwards clearly by today’s open, to head towards resuming the main bullish trend within the mentioned channel, motivated by stochastic positivity.
Therefore, we expect to witness more rise in the upcoming sessions, and the targets begin at 1.3050 followed by 1.3150, noting that the continuation of the bullish wave requires holding above 1.2895.
The expected trading range for today is between 1.2910 support and 1.3040 resistance.
The expected trend for today: Bullish