Crude oil price suffers more losses – Analysis - 08-12-2022
Crude oil price broke 73.64 level strongly and settled below it, reinforcing the expectations of continuing the domination of the bearish trend on the intraday and short term basis, waiting to visit 70.00 as a next main target.
The bearish channel continues to organize the expected bearish wave, supported by the EMA50 that presses negatively on the price, noting that breaching 73.64 might push the price to achieve temporary intraday gains that reach 75.95 areas before any new attempt to decline.
The expected trading range for today is between 70.50 support and 74.00 resistance.
The expected trend for today: Neutral
Silver price approaches the target - Analysis - 08-12-2022
Silver price traded positively yesterday to approach our first waited target at 22.86, and we suggest the continuation of the bullish bias to surpass this level and head towards 23.36 as a next positive target, supported by the EMA50 that carries the price from below.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, reminding you that it is important to hold above 22.24 to continue the bullish trend.
The expected trading range for today is between 22.30 support and 23.10 resistance.
The expected trend for today: Bullish
Gold price resumes the bullish bias – Analysis - 08-12-2022
Gold price provided clear positive trades to attempt to return to the bullish channel that appears on the chart, waiting to get positive momentum that assists to push the price to surpass 1790.00 and ease the mission of heading towards 1810.00 as a next positive station, noting that breaching this level will extend the bullish wave to reach 1850.00 areas.
Therefore, we will continue to suggest the bullish trend unless breaking 1764.40 and holding below it.
The expected trading range for today is between 1770.00 support and 1810.00 resistance.
The expected trend for today: Bullish
The USDCAD attempts to breach – Analysis - 08-12-2022
The USDCAD pair faced temporary negative pressure yesterday but it rises again to attempt to breach 136.80 level now, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, waiting to open the way to head towards our next positive target that reaches 1.3800.
Therefore, the bullish trend will remain valid unless breaking 1.3600 and holding below it.
The expected trading range for today is between 1.3600 support and 1.3770 resistance.
The expected trend for today: Bullish