Crude Oil Price Analysis

Expected Scenario

• Crude oil price continued to rise yesterday to breach 77.64$ level and close the daily candlestick above it, to support the chances of continuing the domination of the bullish trend in the upcoming sessions and pave the way to achieve new positive targets that reach 79.55$, but it begins today with clear negativity to press on the support line formed at 77.64$, which hints a potential turn to decline and stop the current bullish wave.
• We prefer to stay aside until the price confirms its situation according to 77.64$ level, noting that consolidating above it will lead the price to continue the rise towards the above mentioned positive target, while breaking it and holding below it represents the key to build bearish wave that targets 75.25$ areas on the near-term basis.

Expected Trading Range

Between 76.00$ support and 79.40$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price rise stopped at 29.85$ level, to rebound downwards clearly and break 29.30$ now and attempts to hold below it, to stop the intraday positive scenario and head towards resuming the correctional bearish track again, targeting testing 28.55$ initially, noting that breaking this level will push the price to suffer intraday losses that reach 27.62$.
• Stochastic provides negative signals that support the continuation of the suggested bearish wave, which will remain valid conditioned by the price stability below 29.30$.

Expected Trading Range

Between 28.60$ support and 29.55$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price provided slight positive trades yesterday, but it begins to decline again by today’s open, motivated by the negative overlapping signal provided by stochastic now, waiting for more decline in the upcoming sessions to test 2272.06$ initially, noting that surpassing this level will extend the correctional bearish wave to reach 2217.10$ as a next target.
• Therefore, we will continue to suggest the bearish trend for the upcoming period, reminding you that breaching 2340.10$ will stop the expected decline and lead the price to regain the main bullish trend again.

Expected Trading Range

Between 2275.00$ support and 2315.00$ resistance.

USDCAD Price Analysis

Expected Scenario

• The USDCAD price settles around the 1.3770$ level, noticing stochastic got rid of its negativity to reach the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which its next target located at 1.3845$.
• Therefore, we will continue to suggest the bullish trend on the intraday and short-term basis, supported by the EMA50, reminding you that it is important to hold above 1.3690$ to achieve the waited targets.

Expected Trading Range

Between 1.3710$ support and 1.3850$ resistance.