Banex Capital

27/04/2023

26/04/2023

Crude oil prices resume the decline – Analysis - 26-04-2023 Crude oil prices provided clear negative trades yesterday to move away from 78.90 level and approach our waited target at 76.10, which represents 38.2% Fibonacci correction level for the rise that started from 64.19 areas, and the way seems open to surpass this level to open the way to achieve more bearish correction that its next target reaches 73.85.

Therefore, the bearish trend scenario will remain valid and active for the upcoming period, supported by the EMA50 that continues to press negatively on the price, noting that breaching 78.90 will stop the bearish trend and lead the price to attempt to resume the main bullish trend again.

The expected trading range for today is between 75.70 support and 78.90 resistance.
The expected trend for today: Bearish

26/04/2023

Gold price within continuation pattern – Analysis - 26-04-2023 Gold prices ended yesterday positively to settle above 1992.20 level, noticing that the recent trades are confined withing symmetrical triangle pattern that appears on the chart, thus, the chances still valid to continue the correctional bearish trend, supported by stochastic negativity that appears on the chart.

Therefore, we are waiting for negative trades in the upcoming sessions, and the price needs to break 1992.20 followed by 1976.00 levels to confirm rallying towards 1957.30 that represents our next main target, noting that breaching 2007.50 will stop the negative scenario and lead the price to start new bullish wave on the intraday and short term basis.

The expected trading range for today is between 1980.00 support and 2010.00 resistance.

The expected trend for today: Bearish

26/04/2023

Silver prices hit the first target - Analysis - 26-04-2023 Silver price succeeded to touch our first waited target at 24.60 and found solid support there, to show some bullish bias and test the EMA50 that forms good resistance against the price, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the bearish bias and break the mentioned level to open the way to achieve more bearish correction, which its next target reaches 23.70.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 25.50 will stop the negative scenario and lead the price to resume the main bullish trend again.

The expected trading range for today is between 24.50 support and 25.30 resistance.

The expected trend for today: Bearish

26/04/2023

Let's start trading with us:
www.banexcapital.com

25/04/2023

Gold prices begins positively – Analysis - 25-04-2023 Gold price opens today positively to breach 1992.20 and settles above it, to hint stopping the bearish correction, but we notice that the EMA50 forms good resistance against the price to stop the positive trades, while stochastic loses its positive momentum clearly to show overbought signals now.

Therefore, we believe that the chances valid to resume the bearish bias in the upcoming sessions, and the price needs to break 1992.20 again to confirm heading towards 1957.30 as a next correctional target, taking into consideration that consolidating above 1992.20 will stop the negative scenario and lead the price to regain the main bullish trend again.
The expected trading range for today is between 1975.00 support and 2005.00 resistance.

The expected trend for today: Bearish

19/04/2023

Crude oil price awaits more decline – Analysis - 19-04-2023 Crude oil price provided positive trades yesterday to approach testing the first key resistance 81.70, starting today with bearish bias to test the EMA50 that forms support now at 80.85, and the price needs to break this level to reinforce the expectations of continuing the intraday bearish trend, which targets 78.90 as a next main station.

Stochastic loses its positive momentum clearly to support the expectations to decline today, noting that breaching 81.70 followed by 82.25 levels will stop the negative scenario and lead the price to regain the main bullish trend again.

The expected trading range for today is between 79.40 support and 82.30 resistance.

The expected trend for today: Bearish

19/04/2023

Silver price crawls upwards - Analysis - 19-04-2023 Silver prices shows positive trades to gradually approach the key resistance 25.50, noticing that stochastic approaches the overbought areas, waiting to motivate the price to resume the bearish bias and head to test 24.60 as a first negative station.
Breaking 25.05 will ease the mission of achieving the expected decline and achieve the suggested target, while continuing the rise and breaching 25.50 will stop the negative scenario and lead the price to return to the main bullish track again.

The expected trading range for today is between 24.60 support and 25.50 resistance.
The expected trend for today: Bearish

19/04/2023

Gold prices loses momentum – Analysis - 19-04-2023 Gold price fluctuates around the EMA50, and stochastic continues to lose the positive momentum, to keep the chances valid to resume the correctional bearish wave, and the price needs to break 1992.20 to confirm extending the bearish wave towards 1957.30 areas.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 2010.00 will lead the price to stop the bearish correction and rally to regain the main bullish trend again.

The expected trading range for today is between 1985.00 support and 2015.00 resistance.

The expected trend for today: Bearish

10/04/2023

Let's trade with us and earn more money.

07/04/2023

Gold gives up the 13-month peak on profit-taking


Gold prices fell in European trade for the first time in four days, moving off 13-month highs on profit-taking as investors shun new positions ahead of US payrolls data.
The US payrolls report will be released tomorrow, which will show the number of new jobs added to the economy, and the status of unemployment and wages.

Prices Today

Gold prices fell 0.6% to $2,008 an ounce, after rising 0.1% yesterday, hitting a 13-month high at $2,032.
Gold prices rose over 0.2% this week following the surprise OPEC+ production cut and following weak US data.

Disappointing Data

Recent US data showed the private sector added fewer jobs than expected in March, while the US services sector slowed down as well in March.
US job opportunities tumbled in February to two-year lows, while US manufacturing slumped to three-year lows in another sign of recession in the first quarter of the year.

US Rates

Following the data, pricing for no change in policies at the Federal Reserve's May meeting stands at 60%, while pricing for a 0.25% rate hike fell to 40%.
Now investors expect a rate cut by the Federal Reserve in September, culminating in a final interest rate of 4.25% in December.

The Jobs Data

Now investors await the crucial US payroll data on Friday to gauge the state of the economy and the path forward for the Federal Reserve.

Fed Remarks
Cleveland Fed President Loretta Mister said it's still too early to know whether the Fed will raise interest rates in May.
The SPDR
Gold holdings at the SPDR Gold Trust rose 0.87 tonnes yesterday to a total of 930.91 tonnes, the highest since October 2022.