Crude oil price turns to decline – Analysis - 01-07-2022
Crude oil price traded with strong negativity yesterday to break the bullish channel’s support line and reach 104.60 direct, starting today with new negativity to press on the mentioned level, which hints heading to suffer more expected losses in the upcoming sessions, targeting 101.20 followed by 98.95 levels as next main stations.
Therefore, we expect to witness more decline on the intraday basis, taking into consideration that the consolidation of 104.60 level against the current negative pressure will stop the suggested negative scenario and lead the price to start new recovery attempts.
The expected trading range for today is between 101.00 support and 107.00 resistance.
The expected trend for today: Bearish
Silver price approaches the extended target - Analysis - 01-07-2022
Silver price traded with clear negativity yesterday to surpass our first target at 20.50 and approaches the extended target at 20.00, moving within bearish channel that supports the chances of achieving more expected decline in the upcoming sessions, to head towards 19.55 areas on the near term basis.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 20.50.
The expected trading range for today is between 19.70 support and 20.50 resistance.
The expected trend for today: Bearish
Gold price keeps declining – Analysis - 01-07-2022
Gold price managed to surpass 1810.00 level, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to achieve our next target at 1780.25.
The EMA50 continues to support the suggested bearish wave, noting that breaching 1810.00 will push the price to achieve intraday gains and test 1850.00 areas before any new attempt to decline.
The expected trading range for today is between 1780.00 support and 1820.00 resistance.
The expected trend for today: Bearish
The USDCAD keeps its negative stability – Analysis - 01-07-2022
The USDCAD pair provided additional positive trades to test the most important resistance 1.2930 and bounced bearishly from there, which keeps the bearish trend scenario active, waiting to test 1.2840 as a first station.
The EMA50 supports the expected decline, noting that breaching 1.2930 will stop the negative scenario and lead the price to resume the main bullish track again.
The expected trading range for today is between 1.2810 support and 1.2950 resistance.
The expected trend for today: Bearish