Crude oil price needs the positive momentum – Analysis - 27-01-2022
Crude oil price faces solid resistance at 87.05, to show some slight bearish bias now, affected by stochastic negativity, waiting to get positive momentum that assist to push the price to resume the bullish trend that targets 88.00 as a next positive station.
Holding above 85.85 is important to continue the expected rise, as breaking it will press on the price to achieve intraday bearish correction before the attempt to return to resume the bullish trend again.
The expected trading range for today is between 85.50 support and 88.00 resistance.
The expected trend for today: Bullish
Silver price approaches the second target - Analysis - 27-01-2022
Silver price surpassed the first negative target at 23.40 and approaches 23.15 level, noticing that the price completed forming double top pattern that supports the chances of breaking the last level and open the way to achieve more decline in the upcoming period, as the next negative targets reach 22.60 areas.
Therefore, we will continue to suggest the bearish trend on the intraday basis, noting that the consolidation of 23.15 level against the current negative pressure might push the price to recover again and visit 24.20 level initially.
The expected trading range for today is between 22.80 support and 23.60 resistance.
The expected trend for today: Bearish
Gold price under the negative pressure – Analysis - 27-01-2022
Gold price broke 1825.15 level strongly and ended yesterday below it, which stops the recently suggested positive scenario and lead the price to turn to decline, on its way to test 1797.00 level initially, noting that breaking this level will push the price to 1770.00 as a next negative station.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 1825.15 and holding above it again.
The expected trading range for today is between 1797.00 support and 1825.00 resistance.
The expected trend for today: Bearish
The USDCAD reaches the first target – Analysis - 27-01-2022
The USDCAD pair rallied upwards strongly to reach the thresholds of the first waited target at 1.2725, and we expect to surpass this level to open the way to achieve more gains on the intraday and short term basis, as the next targets reach 1.2810 followed by 1.2950.
The EMA50 continues to support the expected bullish wave, which will remain valid unless breaking 1.2590 and holding below it.
The expected trading range for today is between 1.2650 support and 1.2800 resistance.
The expected trend for today: Bullish