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Crude oil price records the third high – Analysis - 11-09-2023
Crude oil price continued to rise to reach the thresholds of the recently recorded high at 88.18, and bounced bearishly to head towards resuming the expected correctional bearish trend on the intraday basis after recording the third lower high as appears on the chart, waiting to visit 85.75 initially, noting that breaking this level will push the price to 84.25 direct.
Therefore, we expect to witness more decline in the upcoming sessions, noting that breaching 88.18 will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 84.50 support and 88.50 resistance.
The expected trend for today: Bearish
Silver price negotiates the support - Analysis - 11-09-2023
Silver price hovers around 23.00 level and attempts to consolidate above it, while stochastic gathers the positive momentum gradually, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which its next main target located at 23.70.
MoreGold price faces solid resistance – Analysis - 11-09-2023
Gold price bounced downwards clearly after finding solid resistance at 1929.00, noticing that the price begins to rise by today’s open, to head towards resuming the positive attempts, waiting to breach the mentioned resistance to confirm opening the way to head towards 1945.20 as a next main target.
MoreThe USDCAD fails to confirm the breach – Analysis - 11-09-2023
The USDCAD pair couldn’t manage to hold for long time above 1.3680, to rebound bearishly and head towards visiting the bullish channel’s support line around 1.3580 initially, noting that breaking this level will extend the bearish wave to reach 1.3500 areas on the near-term basis.
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