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Nike pierces downward correctional trend line - Analysis - 01-08-2023
Nike's stock (NKE) rose in the intraday levels, confirming the breach of the downward correctional short-term trend line, and marking a profit of 1.63% in the last session, or 1.77 points, and settling at 110.39, while trading above the 50-day SMA, countered with negative signals from the RSI after reaching overbought levels, hindering upcoming gains.
Therefore we expect more gains for the stock, targeting the pivotal resistance of 115.80, provided it settles above 109.30.
Expected trend for today: Bullish
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Midday update for the NZDUSD 01-08-2023
The NZDUSD pair continues to decline to approach the key support 0.6140, noticing that stochastic approaches the oversold areas, waiting to motivate the price to resume the expected bullish wave for the upcoming period, which targets 0.6290 mainly.
MoreMidday update for the AUDUSD 01-08-2023
The AUDUSD pair is facing additional negative pressure to break 0.6665 and settles below it, which hints heading to turn to decline for the rest of the day, and we prefer to stay aside until the price confirms its situation according to this level, noting that confirming breaking it will push the price to 0.6550 as a next negative station, while stepping above it again will reactivate the positive scenario that its next main target located at 0.6780.
MoreMidday update for Brent oil 01-08-2023
Brent oil price fluctuates within sideways and tight track since morning, thus, the bullish trend scenario will remain valid for today without any change, waiting to get positive motive that assist to push the price to achieve our next target at 87.65, reminding you that it is important to hold above 85.00 to continue the expected rise.
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