Crude oil price reaches the target – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:46AM UTC
Crude Oil Price Analysis
Expected Scenario: Bullish Trend
- Crude oil price succeeded in reaching the $83.56 level.
- Market reopening is awaited to resume the bullish wave on the intraday and short-term basis.
- Breaching the $83.56 level is crucial for targeting $85.00 as the next main objective.
- We anticipate the continuation of the bullish trend, supported by the EMA50.
- Consolidation above $83.56 against positive attempts may trigger bearish rebounds, targeting $82.25 areas.
Expected Trading Range for Today
- Support: $82.20
- Resistance: $85.00
Trend Forecast: Bullish
Silver price breaches the resistance - Forecast today - 29-03-2024
Economies.com
2024-03-29 01:45AM UTC
Silver Price Analysis
Expected Scenario: Bullish Trend
- Silver price ended yesterday with clear positivity, breaching the $24.85 level and closing the daily candlestick above it.
- This activates the positive scenario on the intraday basis and signals a resumption of the main bullish trend.
- We anticipate the price heading towards achieving positive targets, starting at $25.50 and extending to $26.07.
- The bullish bias will likely persist in the upcoming sessions, supported by stochastic positivity.
- Failing to consolidate above $24.85 might trigger a new bearish correction, with initial targets around the $24.30 level.
Expected Trading Range for Today
- Support: $24.70
- Resistance: $25.40
Trend Forecast: Bullish
Gold price surpasses the first target – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:44AM UTC
Gold Price Analysis
Expected Scenario: Bullish Trend
- Gold price confirmed breaching the $2222.86 level after closing the daily candlestick above it.
- This reinforces the expectations of continuing the bullish trend on the intraday and short-term basis.
- We anticipate targeting $2250.00 areas on the near-term basis.
- We expect further rise in the upcoming sessions, organized inside the bullish channel visible on the chart.
- Breaking $2222.86 and trading below it will likely lead to a decline, testing the bullish channel’s support line around $2188.00 before any new attempt to rise.
Expected Trading Range for Today
- Support: $2220.00
- Resistance: $2250.00
Trend Forecast: Bullish
The USDCAD price under the negative pressure – Forecast today - 29-03-2024
Economies.com
2024-03-29 01:44AM UTC
USDCAD Price Analysis
Expected Scenario: Bearish Trend
- The USDCAD price traded with clear negativity, nearing the $1.3505 level.
- This suggests a potential return to the correctional bearish track.
- Breaking the $1.3505 level will confirm the continuation of the bearish trend towards $1.3440 as the next negative station.
- Therefore, the bearish bias is expected for today, supported by moving below the EMA50.
- Note that breaching $1.3606 will invalidate the expected decline and may lead to a resumption of the main bullish trend.
Expected Trading Range for Today
- Support: $1.3460
- Resistance: $1.3600
Trend Forecast: Bearish
Frequently asked questions
What is the price of Oil today?
The price of Oil is $66.485 (2025-07-04 23:55PM UTC)