No news for Crude oil price – Analysis - 06-07-2020
Crude oil price continues to fluctuate around 40.41 resistance line, which represents one of the next trend keys besides the support line that rises now to 38.90, which makes us continue with our neutrality until we get clearer signal for the next trend and breaching one of the mentioned levels.
Note that breaching the mentioned resistance and holding with a daily close above it will push the price to resume the main bullish trend that its next target located at 43.05, while breaking the support represents negative factor that will press on the price to test 36.10 level initially.
The expected trading range for today is between 39.00 support and 41.60 resistance.
The expected trend for today: Neutral
Silver price within tight track – Analysis - 06-07-2020
The tight range dominates Silver price trades, which keeps its stability above the intraday bullish trend line that appears on the chart, getting positive support by the EMA50.
Therefore, we will continue to suggest the bullish trend for the upcoming period, which depends on the price stability above 17.80, while our main targets located at 18.38 and extend to 18.93 after surpassing the previous level.
The expected trading range for today is between 17.85 support and 18.40 resistance.
The expected trend for today: Bullish
Gold price gathers the positive momentum – Analysis - 06-07-2020
Gold price shows sideways and tight trades and settles near the EMA50, noticing that stochastic got rid of its negative momentum and reaches the oversold areas, waiting to motivate the price to resume the expected bullish trend on the intraday and short term basis, which its main targets located at 1800.00 followed by 1850.00.
The EMA50 continues to support the expected bullish wave, which will remain valid conditioned by the price stability above 1755.00.
The expected trading range for today is between 1760.00 support and 1800.00 resistance.
The expected trend for today: Bullish
The USDCAD crawls downwards – Analysis - 06-07-2020
The USDCAD pair trades with calm negativity to move away from 1.3612 level, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, as it approaches the first waited target at 1.3500, which breaking it represents the key to extend the bearish wave towards 1.3362.
Therefore, we will continue to suggest the bearish trend supported by the EMA50 conditioned by the price stability below 1.3612 and 1.3650.
The expected trading range for today is between 1.3450 support and 1.3600 resistance.
The expected trend for today: Bearish