Daily Technical Analysis

US crude oil futures prices witnessed an upward rebound by the end of last week’s trading, building on the strong support floor of 72.60. Technically, with a close look at the 240-minute chart, the price has returned to stability above the simple moving averages that support more rises and is …

The yellow metal’s efforts continued to maintain its attempts to rise, which stopped temporarily due to the negative pressure from the 1987 resistance level, forcing the price to decline temporarily. Technically, the overall bullish trend is still the most likely, relying on the stability of trading above the previously breached …

The single European currency showed movements within a bearish bias due to the clash with the resistance level of 1.0920, which forced the pair to retest 1.0820, which concluded last week’s trading above the mentioned support level. Technically, and looking at the 4-hour chart, we find that the 50-day SMA …

Limited positive trades were shown by the movements of the Canadian dollar, trying to benefit from the support level of 1.3650 to retest the resistance level of the psychological barrier of 1.3800, maintaining the negative stability once again. Technically, we are facing a bearish technical formation on the 4-hour time …

Oil, Crude, trading

The prices of US crude oil futures contracts declined significantly by the end of last week’s trading within the bearish directional movement, as we expected, touching the official target station at the price of 67.20, recording its lowest level at $66.86 per barrel. Technically, the bearish trend during today’s session …

Gold prices collided with the psychological resistance level of $2000, which forced gold to trade within a bearish slope that aimed to retest the key to protect the bullish trend of 1960 from ending its weekly trading above the mentioned level. Technically, the overall bullish direction is still the most …

Mixed trades tended to be negative, dominating the movements of the euro-dollar pair within the attempts to recover the euro against the US dollar, recording its highest level at 1.0840, heading towards a decline quickly to activate the bearish scenario, explaining that the decline below 1.0785 is capable of postponing …

The Canadian dollar maintains its negative trading after finding a strong resistance around 1.3740, forcing the pair to trade negatively, recording its lowest level below 1.3685. Technically, we notice the stability of trading below the support of 1.3680, accompanied by the negative pressure coming from the simple moving averages, which …

Oil, Crude, trading