Spotify suffers from negative pressures - Analysis - 14-06-2022
Spotify's stock (SPOT) declined in the intraday levels after announcing plans to acquire AI platform Sonantic, with the stock sliding 3.54%, or 3.62 points, settling at 98.61, with trading volumes matching 10-day averages at 2.4 million shares.
The main downward trend continues to dominate in the medium and short terms, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI.
Therefore we expect more losses for the stock, targeting the pivotal support of 89.00, provided the resistance of 118.20 held on.
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Expected trend for today: Bearish
Midday update for Brent oil 14-06-2022
Brent oil price achieved initial breach to 121.30 level and attempts to hold above it, which supports the continuation of our bullish overview efficiently for the rest of the day, waiting to visit 123.10 followed by 125.00 levels as next main targets, noting that the continuation of the bullish wave requires holding above 119.05.
The expected trading range for today is between 119.00 support and 123.10 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 14-06-2022
Crude oil price attempts to breach 119.35 level now, reinforcing the expectations of continuing the positive scenario in the upcoming sessions, paving the way to head towards 121.30 followed by 123.00 levels that represent our next positive targets, taking into consideration that failing to breach 119.35 will put the price under negative pressure that targets testing 116.30 initially.
The expected trading range for today is between 117.00 support and 120.50 resistance.
The expected trend for today: Bullish
Midday update for Silver 14-06-2022
Silver price shows new negative trades now, rienforcing the expectations of continuing the bearish trend domination, waiting to visit 20.50 level as a next main target.
The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 21.85 level and holding above it.
The expected trading range for today is between 20.70 support and 21.50 resistance.
The expected trend for today: Bearish