JPMorgan readies to tackle pivotal resistance - Analysis - 25-01-2024
JPMorgan Chase's stock (JPM) rose in the intraday levels, amid the dominance of the main upward trend in the medium term, while trading alongside the secondary short-term trend line, with positive pressure from the 50-day SMA, coupled with positive signals rom the RSI after reaching oversold levels.
Therefore we expect more gains for the stock, targeting the pivotal resistance o 173.40, provided the support of 164.30 holds on.
Expected trend for today: Bullish
Midday update for Brent oil 25-01-2024
Brent oil price shows new positive trades to touch 81.00 level and attempts to breach it, to support the expectations of continuing the bullish trend in the upcoming sessions, reminding you that confirming the breach will push the price towards 83.87 areas as a next main station.
The EMA50 continues to support the suggested bullish wave, and the price needs to build solid support base above 81.00 to guarantee the continuation of the expected rise.
The expected trading range for today is between 79.00 support and 82.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 25-01-2024
Crude oil price resumes its positive trading clearly now to surpass 76.00 barrier and reinforce the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to achieve our main waited target at 77.86, noting that breaching this level will extend the bullish wave to reach 81.20 on the near-term basis, while the expected rise will remain valid unless breaking 73.73 and holding below it.
The expected trading range for today is between 74.00 support and 77.00 resistance
The expected trend for today: Bullish
Midday update for Silver 25-01-2024
Silver price fluctuates within tight range since morning, and stochastic attempts to get rid of its negative momentum, and as long as the price is above 22.65, our bullish overview will remain valid for today, supported by the EMA50, reminding you that our targets begin by breaching 23.00 to rally towards 23.70 as a next positive station.
The expected trading range for today is between 22.50 support and 23.10 resistance.
The expected trend for today: Bullish