Crude oil price under the negative pressure – Analysis - 25-01-2023
Crude oil price traded with strong negativity yesterday to break the bullish channel’s support line and settles below it, to fall under expected negative pressure in the upcoming sessions, targeting testing 78.95 areas mainly.
Therefore, the bearish bias will be suggested for today, noting that breaking the mentioned level will extend oil price losses to reach 77.25 areas on the near term basis, while breaching 80.80 represents the key to return to resume the correctional bullish track again.
The expected trading range for today is between 78.50 support and 81.60 resistance.
The expected trend for today: Bearish
Silver price needs strong positive motive - Analysis - 25-01-2023
The EMA50 formed solid resistance against Silver price attempts to rise, to show some slight bearish bias, affected by stochastic negativity, waiting to get positive motive that assists to push the price to resume the bullish wave that targets 24.00 followed by 24.55 levels as next main stations.
In general, the bullish trend scenario will remain valid unless breaking 23.05 and holding below it.
The expected trading range for today is between 23.20 support and 24.00 resistance.
The expected trend for today: Bullish
Gold price faces new negative pressures – Analysis - 25-01-2023
Gold price faced new negative pressures yesterday to attack 1925.00 level, but it bounced bullishly to end the session above the bullish channel’s support line, to keep the chances valid to continue the main bullish trend, which its next target located at 1950.00.
The EMA50 continues to support the suggested bullish wave, noting that breaking 1928.00 followed by 1921.00 will stop the expected rise and press on the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
The USDCAD awaits the break – Analysis - 25-01-2023
The USDCAD pair continues to fluctuate at the key support 1.3350 and attempts to break it, waiting for more decline to visit 1.3205 areas on the near term basis.
Therefore, the bearish trend scenario will remain active on the intraday and short term basis, noting that it is important to hold below 1.3415 as a first condition to continue the expected decline.
The expected trading range for today is between 1.3270 support and 1.3410 resistance.
The expected trend for today: Bearish