The AUDUSD price achieves additional bullish correction – Forecast today - 08-11-2024

Brent oil price returned to rise after the negative pressure that it witnessed in the previous sessions, as it settled above 75.36$ level again, to revive the positive scenario that targets 76.84$ as a next station, reminding you that breaching it will lead the price to visit 78.66$ areas on the near-term basis.

Crude oil price bounced upwards clearly in the previous sessions to end yesterday above 72.15$, which keeps the positive scenario valid and active for the upcoming period, noting that the price begins today negatively to press on this level, but we will depend on the last daily close above it to suggest the bullish bias on the intraday basis, waiting to test 73.71$ as a next main target.

Silver price traded with clear positivity yesterday, as it breached 31.63$ level and settled above it, but we notice that stochastic lost its positive momentum clearly and starts to provide negative signals now, while the EMA50 forms continuous negative pressure against the price.