AT&T readies to pierce pivotal resistance - Analysis - 26-01-2023
AT&T's stock (T) rose in the intraday levels after turning to losses due to costs of restructuring, however it showed continued subscribers growth in the fourth quarter, sending the stock up 6.58% in the last session, or 1.26 points, and settling at 20.42, with trading volumes surpassing 73.5 million shares, above 10-day averages of 38.1 million shares.
Technically,. the upward correctional trend dominates in the short term, with positive support from the 50-day SMA, coupled with positive signals from the RSI.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 21.39, provided it settles above the support of 19.12.
Expected trend for today: Bullish
Midday update for Brent oil 26-01-2023
Brent oil price shows clear positive trades to attack 86.90 level now, and as we mentioned this morning, holding below this level is important to continue the expected bearish trend for today, as breaching it will push the price to visit 88.20 level direct, while consolidating below it will push the price to resume the bearish wave that its first target located at 85.10.
The expected trading range for today is between 84.30 support and 87.50 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 26-01-2023
Crude oil price trades positively to test the key resistance 80.80, which urges caution from the upcoming trading, as breaching this level will push the price to achieve additional gains and test 81.60 areas before turning back to decline again, while breaking 80.00 is required to reinforce the chances of resuming the bearish trend that its targets begin at 78.95 and extend to 77.25 after breaking the previous level.
The expected trading range for today is between 78.50 support and 81.60 resistance.
The expected trend for today: Bearish
Midday update for Silver 26-01-2023
Silver price shows negative trades to press on the key support 23.55, which urges caution from the upcoming trading, as the price needs to consolidate above this level to keep the bullish trend active, which its targets begin at 24.55 and extend to 25.00.
The expected trading range for today is between 23.55 support and 24.40 resistance.
The expected trend for today: Bullish