Starbucks emits more negative signals - Analysis - 11-10-2023
Starbucks Corp's stock (SBUX) rose in the intraday levels, while trading alongside the downward correctional trend line in the short term, with negative pressure from the 50-day SMA, coupled with negative signals from the RSI after reaching overbought levels compared to the stock's movements, hinting at negative divergence and doubling negative pressures.
Therefore we expect the stock to return lower, targeting the support of 89.30 anew, provided the resistance of 97.50 holds on.
Expected trend for today: Likely Bearish
Midday update for Brent oil 11-10-2023
Brent oil price trades with clear negativity now to test 88.00 barrier, reinforcing the expectations of continuing the bearish trend for the rest of the day, supported by stochastic negativity, besides the negative pressure formed by the EMA50, reminding you that our main waited target is located at 86.74, taking into consideration that breaching 90.30 will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 86.70 support and 89.80 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 11-10-2023
Crude oil price shows negative trades now to head towards our waited target at 84.55, and we suggest the continuation of the bearish bias to surpass this level and rally towards 50% Fibonacci correction level at 81.20.
Therefore, the bearish trend scenario will remain active for today, supported by the EMA50 that presses negatively on the price, reminding you that the continuation of the bearish wave depends on the price stability below 87.35.
The expected trading range for today is between 84.30 support and 87.40 resistance.
The expected trend for today: Bearish
Midday update for Silver 11-10-2023
Silver price shows clear positive trades to approach our waited target at 22.25, reminding you that surpassing this level will lead the price to achieve additional positive targets that reach 23.00 on the near-term basis.
Therefore, we will continue to suggest the bullish trend unless breaking 21.35 and holding below it.
The expected trading range for today is between 21.50 support and 22.25 resistance.
The expected trend for today: Bullish