Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 34.64 with take profit at 33.62
Alternative scenario: Buy position is envisaged if price trades above 35.93 with take profit at 37.08
No major economic data with direct bearing on the commodity expected today
Comment: The commodity is currently trading around a proven resistance and some retracement off the region is envisaged amidst the sentiment of the last day trading of May contract (When price touched negative territory).
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.09521 with take profit at 1.09958
Alternative scenario: Sell position is envisaged if price trades below 1.09116 with take profit at 1.08559
Building Permits (US) 1:30 PM
Fed Chair Powell Testifies (US) 3:00 PM
G7 Meetings (All day).
Comment: The pair rallied in yesterday's session overcoming a proven resistance turn support and is envisaged to continue to surge higher, pending the testimony of the Fed Chair later today.
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