Crude oil price suffered strong losses to surpass our extended target at 70.85 and reach the next correctional target at 67.40, and attempts to recover now, but we expect the continuation of the negative pressure in the upcoming period to break the last level and head towards 65.00 as a next main station, noting that the expected decline will remain valid as long as 70.85 level remains intact.
Gold price bounced bearishly after the EMA50 formed solid resistance against the price’s positive attempts, to return to the bearish track after settling below 1797.00, and we expect to head towards 1770.00 as a next negative target unless we witnessed strong breach and hold above 1797.00.
The EURUSD pair soared to breach 1.1275 level and head towards achieving more intraday gains, on its way to visit 1.1375 level before turning back to decline again, making the bearish bias suggested in the upcoming sessions unless breaking 1.1275 level and holding below it again.
Gilead's stock (GILD) fell 0.79% in the last session on profit-taking while gathering momentum and venting off overbought saturation in the RSI, while maintaining the main upward trend, as it's buoyed by the 50-day SMA, settling thereafter at 70.07.
Therefore we expect the stock to return higher, targeting the pivotal resistance of 73.25, provided it holds above 69.35.
Expected trend for today: Bullish