Crude oil price is recovering – Analysis - 13-05-2022
Crude oil price couldn’t manage to hold for long time below 104.60, to trade with strong positivity and breach this level and settles above it, to head towards achieving new expected gains in the upcoming sessions, targeting 109.15 level as a next main station.
Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, noting that breaking 104.60 will put the price under the negative pressure again.
The expected trading range for today is between 104.00 support and 109.15 resistance.
The expected trend for today: Bullish
Silver price touches the target - Analysis - 13-05-2022
Silver price succeeded to touch our waited target at 20.75 and found solid support there, to fluctuate around it now, and the negative scenario still valid as long as the price is moving inside the bearish channel that appears on the chart, waiting to resume the negative trades to head towards our next target that reaches 20.20.
Therefore, we expect to witness more decline in the upcoming sessions, noting that failing to break 20.75 might push the price to achieve some intraday gains and test 21.90 areas before any new attempt to decline.
The expected trading range for today is between 20.30 support and 21.10 resistance.
The expected trend for today: Bearish
Gold price hits the first negative target – Analysis - 13-05-2022
Gold price managed to achieve our first waited target at 1820.00 and attempted to break it, but it shows some bullish bias now affected by stochastic positivity, waiting to get negative motive that assist to push the price to resume the bearish wave that targets 1780.25 as a next station.
The bearish channel continues to organize the suggested bearish wave, which will remain valid unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bearish
The USDCAD approaches the positive target – Analysis - 13-05-2022
The USDCAD pair approached 1.3100 level yesterday, starting today with clear negativity to head towards potential test to the key support 1.2950, affected by stochastic negativity, noting that the EMA50 meets this support to add more strength to it, to keep the overall positive scenario valid for the upcoming period.
The expected targets of the bullish wave extend to 1.3150, noting that breaking 1.2950 will press on the price to test 1.2865 areas before any new attempt to rise.
The expected trading range for today is between 1.2950 support and 1.3090 resistance.
The expected trend for today: Bullish