US30
Global stock markets launched the week lower but bulls quickly regained control over the market. US indices managed to recover from losses and close higher during the two previous sessions. Looking at the US30 index at daily interval, one can see that the price bounced off the key support zone marked with previous price reactions (24,700 pts). According to the classic technical analysis, the mid-term trend was confirmed to be upward. If the current sentiment prevails, the upward move could be extended to the 28,280 pts handle or even 29,430 pts, where all time highs are located. One should also pay attention to recent local highs at 27,540 pts.
US30 D1 interval. Source: xStation5
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USDCAD has been trading in a downward trend recently. The pair has closed the bullish gap from March and the upward correction started. Nevertheless, buyers failed to uphold momentum and sellers regained control. Key mid-term resistance can be found in the 1.3730 area, and is marked with the upper limit of Overbalance structure as well as previous price reactions. As long as the price sits below it, continuation of a downward trend seems more probable. The nearest support to watch lies at 1.3415, where the lower limit of aforementioned price gap is located.
USDCAD D1 interval. Source: xStation
Silver
Silver reached key technical support this week. Precious metal bounced off the key support zone marked with the lower limit of 1:1 structure, previous price reactions and 38.2% Fibonacci retracement. According to the classic technical analysis, price could be expected to rise as long as it sits above the area marked with green colour. The key resistance to watch is the $18.35 handle, where the recent high is located. If the price manages to break above it, one should also pay attention to resistance at $18.8 which marks YTD highs.
Silver H4 interval. Source: xStation5
