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Evening update for Crude oil price 11-01-2023

Economies.com
2023-01-11 18:00PM UTC

Crude oil price rallied upwards strongly to breach 75.65 level and activate the positive scenario on the intraday basis, opening the way to visit 78.90 as a next main target, supported by forming double bottom pattern that has positive targets that surpass the mentioned level, taking into consideration that holding above 75.65 is important to continue the expected rise.

Coinbase touches SMA resistance - Analysis - 11-01-2023

Economies.com
2023-01-11 12:09PM UTC

Coinbase's stock (COIN) advanced in the intraday levels after announcing plans to let go of 950 employees in a step to reduce costs, especially in the crypto sector, with severance package and other costs of the termination estimated at $163 million, with the stock tumbling 12.96% in the last session, or 4.96 points, settling at 43.23, with trading volumes surpassing 24.4 million shares, above 10-day averages of 13.6 million shares. 

 

Technically, the stock is trying to regain some recent losses, touching the 50-day SMA, while retesting the resistance of 40.83, as the RSI reached overbought levels compared to the stock's movements. 

 

Therefore we expect the stock to return lower, targeting the support of 20.20, provided the resistance of 40.83 holds on.

 

Expected trend for today: Bearish 

American Express rises amid negative pressures - Analysis - 11-01-2023

Economies.com
2023-01-11 12:08PM UTC

American Express's stock (AXP) rose in the intraday levels, touching the resistance of the 50-day SMA, amid the dominance of the main downward trend in the short term, while the RSI reached overbought levels. 

 

Therefore we expect the stock to return lower, targeting the first support at 142.72, provided the resistance of 153.84 holds on.

 

Expected trend for today: Bearish 

Schlumberger pierces pivotal resistance - Analysis - 11-01-2023

Economies.com
2023-01-11 12:08PM UTC

Schlumberger's stock (SLB) kept rising in the intraday levels, piercing the pivotal resistance of 55.05, amid the dominance of the main upward trend in the medium and short terms, with support from the 50-day SMA, with positive signals from the RSI despite reaching overbought levels. 

 

Therefore we expect more gains for the stock, targeting the resistance of 61.60, provided it settles above 55.05. 

 

Expected trend for today: Bullish