Evening update for Crude oil price 24-01-2024

Gold price faces negative pressure to attack 2016.90 level now, which urges caution from the upcoming trading, as confirming breaking this level will stop the recently suggested positive scenario and push the price to achieve more bearish correction on the intraday basis, noting that closing the day below it will push the price to visit 1977.46 as a next negative station.

The EURUSD pair provided additional positive trades to breach 1.0890 level and attempts to hold above it, to support the chances of turning to rise in the upcoming sessions, but we are waiting the daily close according to the mentioned level and to 1.0860 to detect the next targets clearly, noting that the expected targets after the breach are explained in our previous reports.

Caterpillar's stock (CAT) fell in the intraday levels after the pivotal and stubborn resistance of 293.88 held on, while gathering positive momentum to pierce that resistance, amid the dominance of the main upward trend in the medium term as the stock trades alongside the secondary short-term trend line, while trading above the 50-day SMA, with positive signals from the RSI after reaching oversold levels.