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Crude oil prices suffer more losses – Analysis - 03-05-2023
Crude oil prices continued the strong decline to touch 71.55 and settles there, as it returned to the correctional bearish channel again, to fall under more expected negative pressure in the upcoming sessions, waiting to break this level to open the way to head towards 68.75 as a next negative station.
Therefore, we suggest the continuation of the bearish bias on the intraday and short term basis, supported by the negative pressure formed by the EMA50, noting that breaching 72.65 will stop the current negative pressure and lead the price to start recovery attempts that target testing 73.85 areas initially.
The expected trading range for today is between 70.00 support and 73.20 resistance.
The expected trend for today: Bearish
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Silver prices rises again - Analysis - 03-05-2023
Silver price couldn’t break 24.60 level after many attempts to press on this level, to rebound upwards strongly again and settle above 25.00 barrier, which makes us suggest turning to rise and head to resume the main bullish trend, on its way to test 26.07 as a first main station, breaching it represents the key to rally towards 26.90 areas.
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