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Crude oil price rises strongly – Analysis - 05-10-2021

Economies.com
2021-10-05 04:12AM UTC

Crude oil price’s rise stopped at 78.35, to show temporary negative trades, noticing that the price completed forming bullish flag pattern that appears on the minor image, as it breached this pattern’s resistance to get positive motive that we expect to push the price to achieve additional gains that reach 79.00 followed by 80.00.

 

Therefore, we will continue to suggest the bullish trend for the upcoming period supported by the EMA50, taking into consideration that breaking 77.45 will press on the price to test 76.64 before any new attempt to rise.

 

The expected trading range for today is between 76.50 support and 79.50 resistance.

The expected trend for today: Bullish

Silver price tests the support base - Analysis - 05-10-2021

Economies.com
2021-10-05 04:12AM UTC

Silver price tests the support line formed at 22.40, and the price needs to break this level to return to the bearish channel that appears on the chart followed by reinforcing the chances of continuing the decline on the intraday basis.

 

Until now, we will continue to suggest the bearish trend for the upcoming period as long as 22.90 level remains intact, reminding you that our first main target is located at 21.65.

 

The expected trading range for today is between 22.00 support and 22.80 resistance.

 

The expected trend for today: Bearish

Gold price tests the resistance – Analysis - 05-10-2021

Economies.com
2021-10-05 04:12AM UTC

Gold price found solid resistance at 1770.00 level, and couldn’t breach it, to start declining by today’s open, which keeps our bearish overview valid for the upcoming period, and the price needs to break 1755.00 to ease the mission of heading towards our main expected target at 1735.00.

 

Stochastic negativity supports the suggested decline, taking into consideration that breaching 1770.00 will stop the expected decline and lead the price to turn to rise.

 

The expected trading range for today is between 1740.00 support and 1775.00 resistance.

 

The expected trend for today: Bearish

The USDCAD breaks the support – Analysis - 05-10-2021

Economies.com
2021-10-05 04:12AM UTC

The USDCAD pair broke 1.2600 level strongly and closed the daily candlestick below it, to activate the bearish trend scenario for the upcoming period, targeting visiting 1.2495 mainly.

 

The EMA50 supports the expected decline, noting that breaching 1.2665 will stop the negative scenario and lead the price to start new recovery attempts.

 

The expected trading range for today is between 1.2550 support and 1.2665 resistance.

The expected trend for today: Bearish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $68.686 (2025-07-11 22:15PM UTC)