Crude oil price made a new test to 54.60 level and bounced lower from there, keeping the bearish trend scenario valid and active on the intraday basis, and the price needs to surpass the EMA50 to ease the mission of achieving our waited initial target at 51.80.
Note that surpassing the mentioned target will push the price to 50.00 barrier directly, while breaching 54.60 will stop the expected decline and leads the price to achieve extra gains that reach to 57.40.
The expected trading range for today is between 51.80 support and 54.60 resistance.
The expected trend for today: Bearish
The EURUSD pair settles near 1.1160 level after reaching few point away from our waited target at 1.1180, and it might witness temporary bearish bias affected by stochastic negativity, while the EMA50 keeps supporting the price from below.
Therefore, we will keep our bullish trend expectations in the upcoming period, and the price needs to breach 1.11800 level to confirm the extension of the bullish wave towards 1.1280, taking into consideration that the continuation of the suggested bullish trend requires holding above 1.1060 level.
The expected trading range for today is between 1.1080 support and 1.1260 resistance.
The expected trend for today: Bullish
Silver price returns to test 17.60 levek, and as we mentioned in our last reports, holding below this level is required for the continuation of the expected bearish trend on the intraday and short term basis, and its next target at 16.96.
Therefore, we wait for a negative trading today, being aware that breaching 17.60 will push the price to begin new recovery attempts that target testing 18.40 levels initially.
The expected trading range for today is between 17.20 support and 17.70 resistance.
The expected trend for today: Bearish
Gold price shows sideways and tight range trading to fluctuate near the EMA50, and it remains within the bearish channel that appears in the above chart, while stochastic returns to lose the positive momentum gradually.
Therefore, we will keep our bearish trend expectations unless breaching 1505.00 level and holding above it, pointing that breaking 1485.00 is required to confirm resuming the bearish trend that its next main target at 1447.00.
The expected trading range for today is between 1470.00 support and 1505.00 resistance.
The expected trend for today: Bearish