Crude Oil Price Analysis

Expected Scenario

• Crude oil price consolidates above 77.64$ support line, noticing that the price moves inside bullish channel that supports the chances of resuming the bullish trend on the intraday and short-term basis, waiting to head towards 79.55$ as a next main target, reminding you that breaching this level will lead the price to achieve additional gains that reach 81.50$.
• The EMA50 meets 77.64$ support line to add more strength to it and protect the suggested positive scenario, which will remain valid unless breaking this support and holding with a daily close below it.

Expected Trading Range

Between 77.00$ support and 80.00$ resistance

Silver Price Analysis

Expected Scenario

• Silver price traded with clear negativity yesterday to approach our waited target at 28.55$, showing some bullish bias by today’s open, to head towards potential test to the key resistance 29.30$, waiting to resume the bearish wave to surpass the first level and open the way to head towards 27.65$ as a next negative station.
• The EMA50 supports the continuation of the expected bearish trend, which will remain valid conditioned by the price stability below 29.30$ and the most important below 30.06$.

Expected Trading Range

Between 28.50$ support and 29.40$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price provided negative trades yesterday to test 2300.00$ barrier, waiting for more decline to visit 38.2% Fibonacci correction level at 2272.06$, which represents the next main target of the current bearish wave, reminding you that breaking this level will extend the bearish wave to reach 2217.10$ as a next negative station.
• On the other hand, we should note that breaching 2340.10$ will stop the expected bearish trend and lead the price to return to the main bullish trend again, to head towards achieving gains that start at 2386.60$ and extend to 2416.30$ as initial positive targets.

Expected Trading Range

Between 2280.00$ support and 2320.00$ resistance.

USDCAD Price Analysis

Expected Scenario

• The USDCAD price settles above the main bullish channel’s support line, getting continuous positive support by the EMA50, to continue suggesting the bullish trend on the intraday and short-term basis, reminding you that our next target reaches 1.3845$.
• Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, reminding you that it is important to hold above 1.3690$ to achieve the suggested targets.

Expected Trading Range

Between 1.3680$ support and 1.3810$ resistance.