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Technical analysis report 17-08-2022

17 Aug 2022 12:11 PM

WTI is trending lower, and RSI is also falling, suggesting the price bias is to the downside. If the bearish move continues, 83.33 or 81.68 could act as support. Resistance might be found at 90.05 or 90.77.

Silver has declined and negative momentum is increasing, and that indicates the bears are in control. If the downtrend continues, 19.27 or 19.77 could act as support. A rebound might target 20.62 or 20.86.

Gold is falling and RSI is in decline too, suggesting the price bias is to the downside. If the sell off continues, it might target 1764 or 1754. If the metal rallies from here, it could retest 1792, and a break above that level could bring 1800 into play.

The S&P 500 retreated from its highest level in over three months. Should the broader bullish move continue, it could target 4300 or 4308. RSI is moving lower, and momentum has turned negative, indicating the sellers are in control. A fall could see it target 4246 or 4218.

USD/JPY is edging higher and the MACD indicator shows that momentum is positive, implying the buyers are in control. 135.57 or 136.15 might act as resistance. A fall from here could see it find support at 132.54 or 131.70.

EUR/USD is in a downtrend and if the price decline continues, it might find support at 1.0095 or 1.0000. Momentum has swung into positive territory, implying the bulls are back in control.  A rebound could see it hit 1.0251 or 1.0324.

GBP/USD is under pressure and if the medium-term bearish trend continues, it might target 1.1889 or 1.1847.  Momentum is in positive territory and that suggests the bulls are dominating, resistance might be encountered at 1.2215 or 1.2275.

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