Crude oil price keeps achieving gains – Analysis - 12-01-2022
Crude oil price shows more rise to reach the thresholds of the first waited target at 81.75, and moves inside the bullish channel that supports the chances of achieving more gains on the intraday basis, noting that the next targets reach 84.00 followed by 85.40.
Therefore, the bullish trend will remain valid and active for the upcoming period conditioned by the price stability above 79.80.
The expected trading range for today is between 80.00 support and 83.00 resistance.
The expected trend for today: Bullish
Silver price breaches the resistance - Analysis - 12-01-2022
Silver price surpassed 22.60 level and settled above it, to move inside bullish channel that we expect to push the price to reach 23.15 as a next main target.
Therefore, the bullish bias will be suggested in the upcoming sessions, noting that breaking 226.0 and holding below it again will reactivate the negative scenario that its targets begin by testing 22.00 areas.
The expected trading range for today is between 22.50 support and 23.15 resistance.
The expected trend for today: Bullish
Gold price reaches the target – Analysis - 12-01-2022
Gold price reached few pips away from our waited target at 1825.15, and shows some slight bearish bias now, affected by stochastic negativity, while the EMA50 provides positive support to the price to encourage us to suggest more bullish bias in the upcoming sessions, reminding you that breaching the mentioned level will push the price to 1860.00 as a next positive target.
Therefore, the bullish trend will remain valid on the intraday basis unless breaking 1797.00 and holding below it.
The expected trading range for today is between 1805.00 support and 1835.00 resistance.
The expected trend for today: Bullish
The USDCAD breaks the neckline – Analysis - 12-01-2022
The USDCAD pair traded with strong negativity to succeed breaking the neckline of the head and shoulders’ pattern that appears on the chart and activate the negative pattern, as it surpassed 1.2590 to confirm extending the bearish wave to target 1.2480 as a next main station.
Therefore, we are waiting for more decline in the upcoming sessions, noting that breaching 1.2625 will stop the negative pressure and lead the price to attempt to recover again.
The expected trading range for today is between 1.2470 support and 1.2600 resistance.
The expected trend for today: Bearish