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Baker Hughes receives some support - Forecast today - 27-05-2024
Baker Hughes Company’s stock price (BKR) rose in the intraday levels after leaning on the support of the upward short-term trend line, coupled with positive signals from the RSI after reaching oversold levels, with the stock attempting to shake off negative pressure from the 50-day SMA.
Therefore we expect more gains for the stock, targeting the resistance of $33.55, provided the support of $31.85 holds on.
Trend forecast: Likely Bullish
Update: Calm trades affected by the financial markets
The major currencies’ pairs and commodities show weak trades since morning, affected by the financial markets’ holidays, to keep the suggested scenarios in our recent reports valid without any change, and we recommend to review them to check the expected targets and trends for the upcoming period.
Ethereum price (ETHUSD) forecast update - 24-05-2024
Ethereum (ETHUSD) Price Analysis
Expected Scenario
- Ethereum price (ETHUSD) faces new negative pressure to attack 3641.82$ level, which urges caution from the upcoming trading, as the continuation of the decline and confirming breaking this level will stop the recently suggested rise and force the price to return to the correctional bearish track again, to open the way to achieve negative targets that start at 3360.31$.
- The consolidation above 3641.82$ is required to revive the bullish wave scenario that its next main target located at 3900.00$.
Expected Trading Range
Between 3560.00$ support and 3760.00$ resistance.
Trend Forecast: Bullish
Bitcoin price (BTCUSD) forecast update - 24-05-2024
Bitcoin (BTCUSD) Price Analysis
Expected Scenario
- Bitcoin price (BTCUSD) resumes its negative trading to support the continuation of the expected bearish bias for today, which its next main target located at 65483.00$, being aware that it is important to monitor the price at this level, as breaking it will push the price to suffer additional losses that reach 63350.00$ as a next negative station.
- On the other hand, we should note that breaching 69385.00$ will stop the expected decline and push the price to attempt to regain the main bullish trend again.
Expected Trading Range
Between 65500.00$ support and 69200.00$ resistance.
Trend Forecast: Bearish