Crude oil price keeps the support base – Analysis - 11-05-2021
Crude oil price made new test to 64.35 level and kept its stability above it, getting continuous positive support by the EMA50, to keep the bullish trend suggested in the upcoming sessions, which targets 67.95 areas on the near term basis.
On the other hand, we should note that breaking 64.35 followed by 63.35 levels will stop the expected rise and press on the price to start correctional bearish wave.
The expected trading range for today is between 64.00 support and 66.60 resistance.
The expected trend for today: Bullish
Silver price is forced for some decline - Analysis - 11-05-2021
Silver price bounced bearishly after approaching our first waited target at 28.25, to achieve some temporary bearish correction, noting that stochastic enters the oversold areas now, which supports the chances of resuming the main bullish trend, which moves inside the intraday bearish channel that appears on the chart, noting that our extended target reaches 29.00.
The positive effect of the inverted head and shoulders’ pattern still active, taking into consideration that the continuation of the bullish wave requires holding above 26.60.
The expected trading range for today is between 26.90 support and 27.80 resistance.
The expected trend for today: Bullish
Gold price continues the positive attempts – Analysis - 11-05-2021
Gold price approached 1847.00 level but it bounced bearishly to settle below 1838.00, noticing that stochastic gets rid of its negative momentum clearly, waiting to motivate the price to resume the main bullish trend, which its next target extends to 1865.00.
The EMA50 continues to support the suggested bullish wave, which will remain valid conditioned by the price stability above 1825.00.
The expected trading range for today is between 1820.00 support and 1855.00 resistance.
The expected trend for today: Bullish
The USDCAD under continuous negative pressure – Analysis - 11-05-2021
The USDCAD pair shows more decline to surpass our waited target at 1.2100 and settles below it, reinforcing the expectations of continuing the bearish trend in the upcoming period, and the way is open to visit 1.2000 that represents our next target.
The EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2200.
The expected trading range for today is between 1.2030 support and 1.2150 resistance.
The expected trend for today: Bearish