The pair is trading around 118.50. Stability above 117.90 favors testing 119.05, as breaching the latter and stabilizing above it extends the upside move targetng 120.00 and 120.70, while a break below 117.90 threatens to fail the suggested expectations.

Crude oil touched our main awaited target 57.00 and traded below it with the week opening, and is showing positivity now affected by the positivity of RSI, but the overall negative pressure is still valid on the short and intraday basis waiting to visit 55.60 mainly. Linear Regression Indicators are still negative and support the expected bearishness that remains valid unless the price breached 60.00 and stabilized above it.

The metal rebounded to the downside with the beginning of the week, but remained limited above Linear Regression Indicators and above the support 16.78. In fact, the price should stabilize again above 17.10 at 38.2% correction to confirm extending the upside move showing on graph, and represent the significant interval for the positivity of the price.

From the downside, breaking 16.00 fails the positive expectations, but we prefer to keep the price stable above 16.27 to strengthen the bullish possibility.

The metal touched around 1213.05 at 38.2% correction as showing on graph and rebounded to the upside. The possibilities of new bullish attempts are valid this week, and the pair will try to move back to the upside to test 1238.25, and breaching it triggers another bullish wave towards 1263.50.

From the downside, stabilizing above 1200.00 is the main catalyst to keep the positive outlook, whereas breaking the referred to level weakens the positivity. Linear Regression Indicators are positive and MACD signals lines are trading above line zero to the upside supporting the positive possibility.