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General Motors tries to vent off overbought saturation - Analysis - 08-04-2021

Economies.com
2021-04-08 11:37AM UTC

General Motor's stock (GM) fell 1.79% in the last session after the resistance of 62.00 held on, while the stock gathers momentum and vents off overbought saturation in the RSI, amid the dominance of the main upward trend in the medium term, with positive support from the 50-day SMA.

 

Therefore we expect the stock to return higher, targeting the resistance of 67.00, provided the first resistance of 62.00 was reliably breached. 

 

Expected trend for today: Bullish 

Midday update for the NZDUSD 08-04-2021

Economies.com
2021-04-08 09:19AM UTC

The NZDUSD pair retests the broken support of the rising wedge pattern and keeps its stability below it, to keep the negative effect of this pattern active, waiting to resume the decline that its targets begin by breaking 0.7000 to open the way to visit 0.6895 as a next main target, reminding you that it is important to hold below 0.7095 to achieve the suggested targets.

 

The expected trading range for today is between 0.6950 support and 0.7070 resistance

 

The expected trend for today: Bearish

Midday update for the AUDUSD 08-04-2021

Economies.com
2021-04-08 09:18AM UTC

The AUDUSD pair faces solid support at 0.7615, to show some positive trades, affected by stochastic positivity, and as long as the price is below 0.7665, our bearish overview will remain valid and active for today, waiting to break the mentioned support to confirm rallying towards 0.7500 as a next main station.

 

The expected trading range for today is between 0.7560 support and 0.7665 resistance

 

The expected trend for today: Bearish

Midday update for Brent oil 08-04-2021

Economies.com
2021-04-08 09:18AM UTC

Brent oil price continues to fluctuate around 62.95, which represents the first protection factor to the continuation of the expected bearish trend for today, supported by stochastic and the EMA50 negativity, waiting to resume the negative trades that target 60.30 followed by 57.75 levels as next main stations.

 

The expected trading range for today is between 61.30 support and 64.00 resistance.

 

The expected trend for today: Bearish