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City Group gives in to negative pressure - Analysis - 15-09-2020

Economies.com
2020-09-15 12:36PM UTC

City Group's stock skidded 5.59% in the last session after piecing the upward short-term trend line, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI. 

 

Therefore we expect more losses for the stock, targeting the support of 43.67. 

 

Expected trend for today: Bearish 

Update: Crude oil price is retesting

Economies.com
2020-09-15 15:18PM UTC

Crude oil price shows negative trades to test the EMA50, accompanied by stochastic approach to the oversold areas, waiting to rebound bullishly to resume the bullish trend that targets 40.00 level as a next main station, noting that breaking 36.95 will press on the price to resume the bearish wave on the short term basis.

Update: Gold price faces solid resistance

Economies.com
2020-09-15 15:18PM UTC

Gold price faced solid resistance at 1967.90 level to rebound downwards clearly and test the intraday bullish channel’s support line, waiting to resume the main bullish trend and surpass the mentioned resistance to confirm extending the bullish wave towards 2008.00, noting that breaking 1948.00 will press on the price to test 1934.86 before any new attempt to rise.

Update: The EURUSD attacks the support

Economies.com
2020-09-15 15:18PM UTC

The EURUSD pair faces negative pressure to break the bullish channel’s support line and press on 1.1840 level, which urges caution from the upcoming trading, as continuing the bearish bias and breaking the mentioned level will push the price to achieve more decline and head towards 1.1720 as a next negative station, while stepping above 1.1875 will lead the price to resume the bullish trend that its next target located at 1.2011.