The AUDUSD attempts positively – Analysis - 29-03-2021

Brent oil price shows clear negative trades now after the strong bullish rally that it witnessed in the previous sessions, and attempts to return to the intraday bearish channel, affected by stochastic negativity, to head towards potential return to the correctional bearish scenario, but it needs to break 63.70 followed by 62.94 levels to confirm the continuation of the decline, as consolidating above the first level represents the key to resume the main bullish track.

Crude oil price opens today’s trading with strong negativity to start pressing on 59.85 level, which hints the price head to return to the correctional bearish track, but we prefer staying aside until we get clearer signal for the next trend, which we will get through breaking the mentioned support or breaching 61.25 resistance.

Silver price trades with calm negativity to move away gradually from 25.00 barrier, which support the continuation of our bearish overview, supported by the negative pressure formed by the EMA50, noticing that the price moves inside bearish channel that supports the chances of heading towards our negative targets that reach 24.00 on the near term basis.