|
Crude oil price rises strongly – Analysis - 05-10-2021
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
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.
MoreGold price tests the resistance – Analysis - 05-10-2021
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.
MoreThe USDCAD breaks the support – Analysis - 05-10-2021
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.
More