Evening update for Crude oil price 06-07-2022
Crude oil price declined sharply to surpass our first extended target at 95.00 and approaches the second target at 92.80, and we expect the continuation of the negative pressure and achieve more decline to visit 89.80 areas, noting that holding below 98.95 is important to achieve the suggested targets.
Evening update for Gold 06-07-2022
Gold price traded with strong negativity to surpass our waited target at 1750.00 and opens the way to suffer more losses on the intraday and short term basis, waiting to visit 1700.00 barrier as a next main station, noting that holding below 1765.00 and 1780.00 levels is important to continue the expected decline.
Tesla ends cautiously higher - Analysis - 06-07-2022
Tesla's stock (TSLA) rose in the last session even after reporting it sold 254 thousand cars in the second quarter, down 18% from the first quarter, with the stock rising 2.55%, or 17.41 points, and settling at 699.20, with trading volumes surpassing 28.2 million shares, below 10-day averages of 31.3 million shares.
The stock is moving amid the dominance of the downward correctional short-term trend, with negative pressure from the 50-day SMA, with negative signals from the RSI after reaching overbought levels.
Therefore we expect the stock to return lower, targeting the pivotal support of 623.00, provided the resistance of 756.0 holds on.
Expected trend for today: Bearish
Ford breaches current support - Analysis - 06-07-2022
Ford Motor Company's stock (F) fell in the intraday levels to 52-week lows after reporting a small increase in ne car sales in the second quarter, missing estimates, with the stock sliding 1.06%, or 12 cents, and settling at 11.20, with trading volumes surpassing 87.4 million shares, above 10-day averages of 55.2 million shares.
The downward correctional trend dominates in the short term, with negative pressure from the 50-day SMA, while readying to pierce the current support of 11.14, amid negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the support of 9.50, provided the support of 11.14 was breached.
Expected trend for today: Bearish