Oracle attacks descending price channel's ceiling - Analysis - 15-06-2022
Oracle's stock (ORCL) surged after reporting strong fourth financial quarter results, even as upcoming quarter's profits estimates were less than Wall Street expectations, with the company reporting a net income of $1.54 per share, same as last year, with total earnings mounting to $11.84 billion, up from $11.23 billion last year.
The stock is tackling the ceiling of that descending price channel that guided recent short-term trading, with positive signals from the RSI, after reaching oversold levels, while suffering negative pressure from the 50-day SMA.
Therefore we stand neutral until the stock moves on the pivotal resistance of 70.23, targeting thereafter the resistance of 84.35
Oracle Corporation provides data, devices, and cloud services for many companies worldwide in a variety of fields such as finance, healthcare, and retail.
Trade US Stocks with 1:50 leverage
Expected trend for today: Bullish
Midday update for Brent oil 15-06-2022
Brent oil price trades with clear negativity to move away from the broken support of the bearish channel, reinforcing the expectations of continuing the bearish trend for the rest of the day, which targets 115.10 level as a next main station, reminding you that the continuation of the expected decline that depends on the price stability below 120.00 and the most important below 121.30.
The expected trading range for today is between 116.00 support and 121.30 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 15-06-2022
Crude oil price resumes its negative trades strongly to approach our waited target at 113.70, and the way seems open to attack the mentioned level and extend the bearish wave on the intraday basis, noting that breaking it will press on the price to head towards 111.00 followed by 109.15 levels as next negative stations.
Therefore, our bearish overview will remain valid unless breaching 117.10 and holding above it.
The expected trading range for today is between 113.70 support and 118.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 15-06-2022
Silver price trades with clear positivity to approach testing the EMA50, affected by stochastic that loses the positive momentum and approaches the overbought areas, waiting to motivate the price to resume the bearish trend that depends on the price stability below 21.85, reminding you that our next main target reaches 20.50.
The expected trading range for today is between 20.60 support and 21.50 resistance.
The expected trend for today: Bearish