Kohl's price buoyed by current support - Forecast today - 08-07-2024
Kohl’s Corporation’s stock price (KSS) rose in the intraday levels after the support of $21.43 held on, lending the stock some positive momentum while trading alongside the downward secondary trend line in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect the stock to return lower, targeting the pivotal support of $17.70, provided the initial support of $21.43 is reliably pierced.
Trend forecast: Likely Bearish
Ethereum price (ETHUSD) forecast update - 08-07-2024
Ethereum Price (ETHUSD) Analysis
Expected Scenario
Ethereum price (ETHUSD) rallied upwards strongly to breach 2905.30$ and approach the key resistance at 3132.80$, facing contradiction between the technical indicators that makes us prefer to stay aside until we get a clearer signal for the next trend. The price is forming a double bottom pattern that might assist in pushing the price to achieve more rises in the upcoming sessions.
Note that breaching 3132.80$ resistance will lead the price to visit 3360.31$ as the next positive target, while breaking 2905.30$ support will push the price to decline again and head towards 2623.80$ as a main negative station.
Expected Trading Range
Between 2900.00$ support and 3200.00$ resistance.
Trend Forecast: Neutral
Bitcoin price (BTCUSD) forecast update - 08-07-2024
Bitcoin Price (BTCUSD) Analysis
Expected Scenario
Bitcoin price (BTCUSD) bounced upwards strongly to settle above 56160.00$, noticing that the price placed a higher low that hints at a potential recovery in the upcoming period. Stochastic provides clear positive signals now, but we notice that the EMA50 forms continuous negative pressure that might force the price to decline again.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until we get a clearer signal for the next trend. Note that the continuation of the rise and breaching 58660.00$ will push the price to achieve more gains and visit 60325.00$ as the next positive station, while breaking 56160.00$ will reactivate the negative scenario with its next target reaching 51990.00$.
Expected Trading Range
Between 55000.00$ support and 60000.00$ resistance.
Trend Forecast: Neutral
Brent oil price forecast update 08-07-2024
Brent Oil Price Analysis
Expected Scenario
Brent oil price shows additional negative trades to approach our awaited target at 85.80$, with the potential to surpass this level and extend the correctional bearish wave to target 84.10$ areas on a near-term basis.
Therefore, we continue to suggest a bearish trend for today, noting that it is important to hold below 86.95$ to achieve the expected targets.
Expected Trading Range
Between 85.00$ support and 88.00$ resistance.
Trend Forecast: Bearish