Crude oil price is recovering – Analysis - 28-07-2022
Crude oil price leaned on the bullish channel’s support line and bounced upwards to build new bullish wave, as it tests 98.25 level now, to hint heading to achieve more gains, noting that breaching the mentioned level will push the price to head towards 100.60 followed by 103.60 levels as next main stations.
Therefore, we expect to witness more rise in the upcoming sessions, noting that failing to breach 98.25 will put the price under the negative pressure again, to head towards 95.70 initially.
The expected trading range for today is between 96.00 support and 100.60 resistance.
The expected trend for today: Bullish
Silver price surpasses the first target - Analysis - 28-07-2022
Silver price succeeded to achieve our positive target at 19.00 and breached it to confirm the continuation of the bullish trend domination, activating positive pattern that supports achieving more rise in the upcoming period, waiting to visit 19.60 as a next positive station.
Therefore, the bullish trend scenario will remain valid on the intraday basis, and breaching the last level will extend the bullish wave to reach 20.00, while holding above 19.00 represents key condition to achieve the waited targets.
The expected trading range for today is between 19.00 support and 19.70 resistance.
The expected trend for today: Bullish
Gold price breaches the resistance – Analysis - 28-07-2022
Gold price managed to breach 1726.60 and hold above it, to reactivate the correctional bullish scenario again, paving the way to achieve new gains that start by testing 1755.70.
Therefore, the bullish bias will be suggested for today, supported by the EMA50, taking into consideration that breaking 1726.60 followed by 1715.65 levels will stop the suggested positive scenario and press on the price to resume the main bearish trend again.
The expected trading range for today is between 1725.00 support and 1760.00 resistance.
The expected trend for today: Bullish
The USDCAD resumes the decline – Analysis - 28-07-2022
The USDCAD pair traded with clear negativity yesterday to approach our waited target at 1.2790, falling under continuous negative pressure coming by the EMA50, to support the continuation of the bearish trend domination, noting that breaking the mentioned level will extend the bearish wave to reach 1.2685.
Therefore, our bearish overview will remain valid conditioned by the price stability below 1.2870.
The expected trading range for today is between 1.2740 support and 1.2880 resistance.
The expected trend for today: Bearish