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City Group hits SMA resistance - Analysis - 05-07-2023

Economies.com
2023-07-05 09:40AM UTC

Citigroup's stock (C) rose in the intraday levels, touching the resistance of the 50-day SMA, while trading alongside the downward short-term trend line, marking a cautious profit of 1.52% in the last session, or 70 cents, and settling at 46.74, while venting off oversold saturation in the RSI, with positive signals out of them. 

 

Therefore we expect the stock to return lower, targeting the pivotal support of 43.70, provided it settles below the resistance of 47.50. 

 

Expected trend for today: Bearish 

Midday update for Brent oil 05-07-2023

Economies.com
2023-07-05 10:13AM UTC

Brent oil price trades positively to test 76.00 barrier, to support the continuation of the expected bullish trend for today, which targets testing 76.80 initially, which breaching it represents the key to rally towards 77.75 followed by 78.90 levels, waiting to get positive motive that assist to push the price to achieve the suggested targets.

 

Therefore, the bullish trend will remain active for today unless we witnessed clear break to 74.30 and holding with a daily close below it.

 

The expected trading range for today is between 74.50 support and 77.75 resistance.

 

The expected trend for today: Bullish

Midday update for Crude oil 05-07-2023

Economies.com
2023-07-05 10:12AM UTC

Crude oil price shows new positive trades now to approach 71.55 level, and we suggest breaching this level to extend the bullish wave towards 73.80 areas as a next main station.

 

Therefore, we will keep our bullish overview for today, which gets continuous support by the EMA50, reminding you that the continuation of the bullish wave depends on the price stability above 69.85 as a first condition.

 

The expected trading range for today is between 69.85 support and 72.80 resistance.

 

The expected trend for today: Bullish

Midday update for Silver 05-07-2023

Economies.com
2023-07-05 10:12AM UTC

Silver price shows negative trades to attempt to move away from 23.00 level, reinforcing the expectations of continue the bearish trend in the upcoming sessions, reminding you that our next target is located at 22.25.

 

The EMA50 supports the suggested bearish wave, noting that breaking the targeted level will push the price to suffer additional losses that reach 21.35, while the expected decline will remain valid unless breaching 23.00 and holding with a daily close above it.

 

The expected trading range for today is between 22.50 support and 23.30 resistance.

 

The expected trend for today: Bearish