Crude oil price showed new sharp decline yesterday to break 67.40 support line and reach 64.40$ areas, but it bounced bullishly to settle above the mentioned support by today’s open, which hints the price attempt to recover and start bullish wave on the intraday basis.

Therefore, we prefer to stay aside temporarily until the price confirms its situation according to 67.40 level, as consolidating above it will lead the price to achieve additional gains that reach 70.85 on the near term basis, while breaking it and holding below it again will press on the price to target the previously recorded low areas at 61.85.

The expected trading range for today is between 65.50 support and 69.00 resistance.

The expected trend for today: Neutral

Silver price retested 23.15 level and kept its stability below it, as it bounced bearishly to resume the expected bearish trend for the upcoming period, organized inside the bearish channel that has negative targets that surpass 22.20 to reach 21.40.

Therefore, we will continue to suggest the bearish trend that gets continuous support by the EMA50 unless breaching 23.15 and holding above it.

The expected trading range for today is between 22.40 support and 23.15 resistance.

The expected trend for today: Bearish

Gold price succeeded to touch our waited target at 1770.00 and finds solid support there, to show some temporary bullish bias now, and it might test 1785.00 level before turning back to decline again, waiting to break 1770.00 to confirm extending the bearish wave towards 1734.00.

The EMA50 suppports the suggested negative scenario, which will remain valid unless the price rallied to breach 1785.00 followed by 1797.00 levels and hold above them.

The expected trading range for today is between 1760.00 support and 1795.00 resistance.

The expected trend for today: Bearish

The USDCAD pair provided clear positive trades yesterday to reach 1.2835 level, but it bounced bearishly to test 1.2725 level again, and it needs to hold above this level to keep the bullish trend active for the upcoming period, organized inside the bullish channel that appears on the chart.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis as long as 1.2725 level remains intact, supported by the EMA50, waiting to visit 1.2950 level as a next main target.

The expected trading range for today is between 1.2680 support and 1.2820 resistance.

The expected trend for today: Bullish