Crude oil price is recovering – Analysis - 29-06-2023
Crude oil price breached 68.75 level clearly and ended yesterday above it, to head towards building bullish wave that its targets begin at 70.00 and extend to 71.55 after surpassing the previous level.
Therefore, the bullish bias will be suggested for the upcoming sessions, and the price needs to surpass 69.45 to ease the mission of achieving the waited targets, noting that breaking 68.75 will stop the expected rise and push the price to decline again.
The expected trading range for today is between 68.00 support and 71.00 resistance.
The expected trend for today: Bullish
Silver price crawls downwards - Analysis - 29-06-2023
Silver price fluctuates with calm negativity to move away gradually from 23.00 level, reinforcing the expectations of continuing the bearish trend, waiting to test 22.25 as a next main target.
The EMA50 forms continuous negative pressure against the price to support the expectations to decline, noting that breaking the targeted level will extend the bearish wave to reach 21.35 areas on the near term basis, while breaching 23.00 will stop the bearish trend and lead the price to turn to rise.
The expected trading range for today is between 22.25 support and 22.95 resistance.
The expected trend for today: Bearish
Gold price confirms the break – Analysis - 29-06-2023
Gold prices ended yesterday below 1913.15 level to confirm breaking this level and open the way to continue the decline on the intraday and short term basis, organized inside the bearish channel that appears on the chart, waiting to visit 1873.50 that represents the next negative station.
The EMA50 continues to support the suggested bearish wave, noting that breaching 1913.15 will lead the price to recover and test 1929.00 level before turning back to decline again.
The expected trading range for today is between 1895.00 support and 1915.00 resistance.
The expected trend for today: Bearish
The USDCAD turns to rise – Analysis - 29-06-2023
The USDCAD pair breached 1.3205 level clearly and closed the daily candlestick above it, to head towards achieving expected gains in the upcoming sessions, targeting visiting 1.3350 as a next main station.
Therefore, the bullish bias will be expected for today, and breaching the targeted level will extend the pair’s gains to reach 1.3500, noting that breaking 1.3205 will stop the suggested rise and push the price to decline again.
The expected trading range for today is between 1.3210 support and 1.3350 resistance.
The expected trend for today: Bullish