United Steel tries to vent off oversold saturation - Analysis - 21-06-2022
United Steel Corporation's stock (X) rose in the intraday levels as the company expects net profits in t he second quarter of $3.83 per share at least, above analysts estimates of $3.25 per share, while expecting total profits of $1.6 billion.
The stock is trying to recoup some recent losses and vent off oversold saturation in the RSI, marking a profit of 1.58%, or 31 cents, and settling at 19.89, with trading volumes surpassing 27.4 million shares, above 10-day averages of 15.6 million shares, with negative pressure from the 50-day SMA.
Therefore we expect the stock to return lower and target the pivotal support of 18.00, provided the resistance of 21.87 holds on.
Expected trend for today: Bearish
Adobe sharpens decline - Analysis - 21-06-2022
Adobe's stock declined in the intraday levels, after hitting a session-low at 338.00, a May 2020 low, bouncing off it higher and paring the losses to 1.18%, or 4.29 points, and settling at 360.79, with trading volumes surpassing 9.4 million shares, above 10-day averages of 3.8 million shares after reporting strong financial results for the second quarter, amid increased demand and momentum in new client classes, however the company downgraded its financial forecasts for the financial year.
The main downward trend dominates in the short term, with negative pressure from the 50-day SMA, countered by positive signals from the RSI after reaching oversold levels, as the stock tries to vent off oversold saturation.
Therefore we expect more losses for the stock, targeting the support of 326.35, provided it settles below the resistance of 377.80.
Expected trend for today: Bearish
Midday update for Brent oil 21-06-2022
Brent oil price shows new positive trades now, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to achieve our first waited target at 115.10, reminding you that breaching this level will push the price to 118.00 as a next station, while the expected rise will remain valid for today conditioned by the price stability above 112.30.
The expected trading range for today is between 111.00 support and 117.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 21-06-2022
Crude oil price keeps its stability above 109.15 level, to keep the bullish trend scenario active for today, waiting to get positive momentum that assist to resume the positive trades that target 113.70 as a next main station, noting that breaking 109.15 will press on the price to suffer new losses on the intraday basis.
The expected trading range for today is between 108.00 support and 113.00 resistance.
The expected trend for today: Bullish