Following several consecutive sessions of decline, the Canadian dollar has discovered a robust support base around 1.3180. Benefiting from this foundation, it is now making efforts to initiate a bullish rebound to the upside. From a technical analysis perspective today, a closer examination of the 4-hour time frame chart reveals …
Read More »Oil is trying to form a rising wave 2/1/2024
The most recent technical analysis report suggests that triggering selling positions hinges on breaking the 73.30 level, potentially initiating a downward trajectory for oil. In this scenario, the initial targets lie at 72.50, with the possibility of reaching its lowest point at $71.30 per barrel. From a technical standpoint, our …
Read More »Gold trying to maintain positive stability 2/1/2024
Gold prices are striving to maintain a positive stance as the first trading sessions of the week commence, successfully re-establishing stability above the crucial support level of 2065. From a technical analysis standpoint, a closer examination of the 4-hour chart reveals that the simple moving averages are reinforcing the upward …
Read More »Oil is hovering around support 28/12/2023
US crude oil futures prices witnessed a downward trend during the previous trading session, invalidating the expected bullish scenario in which we relied on trading bases above 73.70 at the time of writing the technical report. Technically, by looking at the 4-hour time frame chart, we find that oil prices …
Read More »Gold achieves the required goals 28/12/2023
Gold prices maintained the expected upward trend during the previous technical report, continuing to build a rising wave, exceeding yesterday’s official target station of 2078, recording its highest level of $2088 during early trading in today’s session. From the angle of technical analysis today, and with a closer look at …
Read More »Oil is recording notable gains 27/12/2023
US crude oil futures exhibited a significant uptrend in the previous trading session, leveraging robust support around $73.20 and reaching a peak of $76.14 per barrel. Technical indicators, including the positive alignment of simple moving averages and encouraging signals from the Relative Strength Index (RSI), contribute to the optimistic outlook. …
Read More »Gold expands its gains 27/12/2023
Gold prices have experienced a notable surge, aligning with the positive outlook outlined in the recent technical report issued last Friday. The precious metal reached the official target of $2068 and attained its highest level at $2069 per ounce during yesterday’s trading session. Today’s technical analysis suggests the potential for …
Read More »Oil is trying positively 22/12/2023
Mixed trading characterized the prices of US crude oil futures contracts, exhibiting fluctuations in both upward and downward directions. Amidst yesterday’s trading, it successfully retested the target at 73.10, reaching its lowest point at 72.45. Subsequently, it initiated an upward rebound around the resistance level of 74.90, achieving a peak …
Read More »Gold touches the required targets 22/12/2023
Gold prices successfully reached the initial target outlined in the previous technical report, hitting the price of 2051 and achieving a peak at $2055 per ounce. On the technical front today, a closer examination of the 240-minute time frame chart reveals that the simple moving averages continue to provide a …
Read More »Oil retests support 21/12/2023
Positive trading prevailed in the US crude oil futures market until midday, reaching the designated target of 75.40 and peaking at 75.35. Technically, examining the 4-hour chart reveals that the 75.40 level is exerting substantial downward pressure on oil, prompting a swift retreat towards 73.54. The negative stochastic indicator is …
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