We adhered to intraday neutrality during the last report due to conflicting technical signals, explaining that the price’s consolidation above the primary resistance of the current trading levels located at 71.55 is leading oil to record gains, starting at 72.60, to succeed in touching the target, recording its highest level …
Read More »Gold continues to fall 22/6/2023
Gold prices succeeded in achieving the expected negative outlook during the previous technical report, explaining that the continuation of trading below the main support of 1945 constitutes a negative pressure factor, with a target of 1924 and a main target of 1913, to suffice for recording its lowest level yesterday …
Read More »CAD: continues to decline gradually 21/6/2023
The technical outlook is unchanged, and the Canadian dollar’s movements did not change much, maintaining negative stability, as we expected, after the 1.3270 resistance managed to limit the bullish bias, to see the current movements stabilize around its lowest level during the early trading of the current session at 1.3209. …
Read More »Oil is looking for a stronger trend 21/6/2023
Mixed trading in both directions dominated the prices of US crude oil futures contracts, nullifying the negative outlook as we expected, in which we relied on stable trading below the level of 71.55, recording its highest level at $72.33 per barrel. Technically, the current movements of oil prices are witnessing …
Read More »Gold breaks support 21/6/2023
As we expected, gold prices declined during the previous trading session within the bearish context. We explained that breaking the main support level of 1945 puts gold prices under negative pressure to touch the first expected target of 1932, recording its lowest level at $1929 per ounce. Technically, and by …
Read More »CAD: negativity remains 20/6/2023
Trading tended to be negative and dominated the Canadian dollar’s movements, with the beginning of trading this week recording its lowest level yesterday at 1.3180. Technically, the current movements of the pair witness a limited bullish bias, benefiting from the attempt to stabilize above the support level of 1.3180, and …
Read More »Oil is still below resistance 20/6/2023
Mixed trading dominated the prices of US crude oil futures contracts yesterday, within a negative path, and the intraday oil movements are still stable below the resistance level of 71.55. Technically, the 50-day simple moving average pushes the price to the upside. On the other hand, negative features still dominate …
Read More »Gold needs confirmation 20/6/2023
Quiet, negative trading dominated gold prices during the first trading of this week amid the US market holiday after gold prices found it challenging to maintain the bullish path. Technically, today, we tend to be negative in our trading, relying on the stability of the price below the simple moving …
Read More »CAD loses momentum 15/6/2023
Trading tended to be negative, dominating the Canadian dollar’s movements within the expected bearish context, approaching by a few points away from the target to be achieved during the previous report at 1.3260, recording its lowest level at 1.3270. Technically, the current movements of the pair witness a limited bullish …
Read More »Oil hits resistance, negative pressure remains 15/6/2023
Crude oil futures prices declined significantly after failing to stabilize for a long time above the psychological barrier of $70.00, and the intraday movements are witnessing stability near its lowest level during the early trading of the current session, $97.95. Technically, with the continuation of moving below the simple moving …
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