Crude oil price begins bearish correction – Forecast today – 20-01-2025 – Economies.com

Crude oil price confirmed breaking the bullish channel’s support line, to start bearish correction on the intraday basis, on its way to test 77.53$ initially, noting that breaking this level will push the price towards 75.53$ as a next negative target.

We notice that the price completes forming double top pattern that supports the expectations to decline in the upcoming sessions, taking into consideration that breaching 79.30$ will stop the negative scenario and lead the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 77.00$ support and 80.00$ resistance

Trend forecast: Bearish

Silver price breaks the initial support – Forecast today – 20-01-2025

Silver price traded with clear negativity in the previous sessions to break 30.63$ and head towards potential test to the key support 29.63$, noticing that the price moves within bullish channel that supports the chances of continuing the bullish trend on the intraday basis, especially that stochastic got rid of its negativity to gain the positive momentum on the intraday time frames.

Therefore, we expect to witness positive trades today, and the price needs to breach 30.63$ to confirm opening the way to head towards 31.63$ as a next main station, noting that the continuation of the decline and breaking 29.63$ will stop the positive scenario and push the price to suffer more losses

The expected trading range for today is between 29.95$ support and 30.85$ resistance.

Trend forecast: Bullish

Gold price under the negative pressure – Forecast today – 20-01-2025

Gold price faced clear negative pressure by today’s open to approach the bullish channel’s support line that appears on the chart, noticing that the EMA50 meets this support to add more strength to it and protect the continuation of the positive scenario on the intraday and short-term basis, accompanied by witnessing clear positive signal through stochastic.

Therefore, we expect to witness positive trades in the upcoming sessions, noting that the next target is located at 2735.00$, taking into consideration that breaking 2684.50$ will put the price under negative pressure to start bearish correction on the intraday basis.

The expected trading range for today is between 2685.00$ support and 2725.00$ resistance.

Trend forecast: Bullish

The USDCAD price hits the target – Forecast today – 20-01-2025

The USDCAD price succeeded to achieve our first waited target at 1.4467$ and attempts to breach it, to support the chances of continuing the bullish trend within the bullish channel that appears on the chart, noting that confirming the breach will push the price towards 1.4600$ areas as a next main station.

The positive support provided by the EMA50 reinforces the expectations of continuing the bullish trend, while breaking 1.4335$ will push the price to turn to decline and test 1.4220$ areas before any new attempt to rise.

The expected trading range for today is between 1.4390$ support and 1.4525$ resistance

Trend forecast: Bullish