Crude oil price suffers sharp losses – Analysis - 04-08-2022
Crude oil price traded with strong negativity to approach our main waited target at 89.60, and we suggest the continuation of the negative pressure after the return to the bearish channel that appears on the chart to head towards achieving more negative targets on the intraday and short term basis, noting that the next target reaches 87.40.
Therefore, we are waiting for more expected decline in the upcoming sessions, noting that breaching 91.65 will lead the price to achieve new intraday gains.
The expected trading range for today is between 87.40 support and 92.00 resistance.
The expected trend for today: Bearish
Silver price attempts to breach - Analysis - 04-08-2022
Silver price continues to fluctuate around 20.00 level, getting continuous positive support by the EMA50, thus, our bullish overview will remain valid as it is without any change, which depends on the price stability above 19.60, reminding you that our waited targets begin at 20.50 and extend to 21.00.
The expected trading range for today is between 19.60 support and 20.50 resistance.
The expected trend for today: Bullish
Gold price keeps its positive stability – Analysis - 04-08-2022
Gold price tested 1755.70 level again and kept its stability above it, to rebound bullishly and resume the correctional bullish wave, waiting to breach 1779.25 to confirm opening the way to head towards 1802.80.
The EMA50 continues to support the expected rise, which moves organized inside the bullish channel that appears on the chart, noting that the continuation of the bullish wave requires holding above 1755.70.
The expected trading range for today is between 1755.00 support and 1790.00 resistance.
The expected trend for today: Bullish
The USDCAD crawls downwards – Analysis - 04-08-2022
The USDCAD pair shows negative trades to move away gradually from 1.2870 level, reinforcing the expectations of continuing the bearish trend, supported by the negative pressure formed by the EMA50, waiting to visit 1.2790 as a next target.
Therefore, the bearish trend scenario will remain valid and active unless breaching 1.2870 and holding above it.
The expected trading range for today is between 1.2760 support and 1.2900 resistance.
The expected trend for today: Bearish