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Technical analysis report 10-08-2022

10 Aug 2022 12:05 PM

WTI fell to a 6-month low last Friday, and RSI is retreating, suggesting the price bias is to the downside. If the bearish move continues, 85.84 or 83.33 could act as support. Resistance might be found at 91.96 or 94.09.

Silver is trending higher, but positive momentum is falling so that indicates the buyers are not as influential as they once were. If the uptrend continues, 21.35 or 21.52 could act as resistance. A fall from here could see 20.00 or 19.53 act as support.

Gold is rising, but momentum has turned negative, implying the bears are in control. If the rally continues, it might target 1800 or 1811. A pullback could retest 1764 or 1753.

The NASDAQ 100 is in a short-term downtrend and the RSI is moving lower, suggesting the bears are dominant. If the market falls further, it could hit 12795 or 12671. Negative momentum is in decline, and that could be a sign the sellers are losing influence. A rally could target 13400 or 13555.

EUR/USD is edging up and the MACD indicator shows that momentum is positive, implying the bulls are in control. If the rally continues, it might run into resistance at 1.0293 or 1.0324. A fall from here might see it find support at 1.0121 or 1.0095.

GBP/USD is trading in small range, and the RSI is in the middle of the range, which suggest there is no major bias in either direction. The short-term trend is higher, and resistance might be encountered at 1.2214 or 1.2292. If the wider downtrend continues, it might find support at 1.2002 or 1.1889.

USD/JPY is moving higher, but momentum has turned negative, suggesting the buyers are no longer in control. A fall could see it target 132.83 or 132.51. If the broader uptrend continues it might target 136.57 or 137.45.

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