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Crude oil price is recovering – Forecast today - 28-03-2024

Economies.com
2024-03-28 03:08AM UTC

Crude Oil Price Analysis

Bullish Momentum

Crude oil price exhibits a bullish bias, surpassing the 82.00$ barrier.

EMA50 support suggests a continuation of the upward trend with initial gains targeting 83.56$.

Intraday Outlook

Expectations favor further bullish bias in the short term.

Breaching 82.40$ will reinforce bullish sentiment, while failure may lead to a retest of 80.68$.

Breakdown below 80.68$ could extend the correctional bearish wave towards 78.90$.

Trading Range

Expected trading range for today: 81.00$ support - 83.80$ resistance.

Trend forecast: Bullish

Silver price awaits the confirmation signal - Forecast today - 28-03-2024

Economies.com
2024-03-28 03:08AM UTC

Silver Price Analysis

Trading Range Bound

Silver price remains constrained between key levels at 24.30$ support and 24.85$ resistance.

Neutrality persists until a breakout occurs.

Technical Indicators

Negativity in technical indicators favors a potential bearish trend.

Bearish correction towards 23.85$ and 23.40$ is possible upon breaking support.

Breaking resistance at 24.85$ could signal a return to the main bullish trend with targets at 25.50$ and 26.07$.

Trading Range

Expected trading range for today: 24.10$ support - 25.00$ resistance.

Trend forecast: Neutral

Gold price needs more positive momentum – Forecast today - 28-03-2024

Economies.com
2024-03-28 03:08AM UTC

Gold Price Analysis

Consolidation Around Key Level

Gold price settles around the 2190.00$ level after a recent rise.

The price has temporarily lost its positive momentum, pausing the bullish wave.

Resumption of Bullish Trend

Positive momentum is awaited to push the price to resume the rise.

First target is set at 2222.86$.

Supporting Factors

The EMA50 continues to support the price from below.

Breaking 2166.50$ will halt the rise, leading to potential bearish correction targeting 2131.70$.

Trading Range

Expected trading range for today: 2175.00$ support - 2210.00$ resistance.

Trend forecast: Bullish

The USDCAD price gathers the positive momentum – Forecast today - 28-03-2024

Economies.com
2024-03-28 03:08AM UTC

USDCAD Price Analysis

Bullish Scenario

  • The USDCAD price tested 1.3606$ level again and bounced bearishly from there.
  • Found solid resistance hindering the mission to rise.
  • The price returns to lean on the EMA50 that provide new positive signals.
  • Waiting to confirm breaching the mentioned level to rally towards our next positive target at 1.3700$.

Positive Momentum

We continue to suggest the bullish trend for the upcoming period.

Supported by stochastic that gets rid of its negative momentum clearly.

Important to hold above 1.3555$ as a first condition to the continuation of the expected rise.

Trading Range

The expected trading range for today is between 1.3530$ support and 1.3660$ resistance.

Trend forecast: Bullish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $66.485 (2025-07-04 23:55PM UTC)