Crude oil price suffers temporary losses – Analysis - 30-06-2022
Crude oil price bounced downwards strongly yesterday after approaching 113.00 barrier, to attack 109.15 level and settles below it, but we notice that the price begins today positively after leaning on the intraday bullish channel’s support line that appears on the chart, which supports the chances of resuming the bullish wave that its next target located at 113.70.
Therefore, we believe that the chances valid to provide new positive trades in the upcoming sessions, noting that breaking 108.35 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 107.00 support and 112.50 resistance.
The expected trend for today: Bullish
Silver price within tight track - Analysis - 30-06-2022
Silver price didn’t show any strong move since yesterday, to continue fluctuating around 20.75, thus, no change to the bearish trend scenario that depends on the price stability below 21.25, noting that our targets begin at 20.50 and extend to 20.00 after breaking the previous level.
The expected trading range for today is between 20.30 support and 21.10 resistance.
The expected trend for today: Bearish
Gold price reaches the first target – Analysis - 30-06-2022
Gold price reached few pips away from our first waited target at 1810.00, showing tight trades, settling below the EMA50 that forms negative pressure against the price, waiting to resume the bearish bias that its next target located at 1780.25.
Therefore, the bearish trend scenario will remain valid and active unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1795.00 support and 1835.00 resistance.
The expected trend for today: Bearish
The USDCAD loses momentum – Analysis - 30-06-2022
The USDCAD pair retested the broken neckline of the double top pattern and keeps its stability below it, accompanied by stochastic loss to the positive momentum clearly, to keep the negative effect of the mentioned pattern active, waiting to resume the negative trades to test 1.2840 initially, which breaking it represents the key to rally towards 1.2770 as a next target.
Therefore, our bearish overview will remain valid unless breaching 1.2930 and holding above it.
The expected trading range for today is between 1.2810 support and 1.2950 resistance.
The expected trend for today: Bearish