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Midday update for Brent oil 17-05-2018
Brent oil price settles above the bullish channel’s resistance that appears on the chart, getting continuous positive support by the EMA50, to keep the bullish trend scenario valid for the rest of the day, which its next target located at 80.65, while achieving it conditions holding above 78.00.
Note that stochastic current negativity might cause some temporary fluctuation before resuming the expected rise.
Expected trading range for today is between 78.00 support and 81.00 resistance.
Expected trend for today: Bullish
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Midday update for Crude oil 17-05-2018
Crude oil price shows sideways trading since morning and settles around 71.70 level now, waiting to get enough positive momentum to push the price to continue the main bullish trend that moves organized inside the bullish channel.
MoreMidday update for Gold 17-05-2018
Gold price resumes its negative trading to approach the key support 1285.90, waiting to break this level to confirm extending the bearish wave towards our next target at 1267.00.
MoreMidday update for GBPUSD 17-05-2018
The GBPUSD pair returns to test 1.3490 level again, and as long as the price is above this level, our bullish overview will remain active for today, waiting to target 1.3710 level initially, noting that breaking 1.3490 will put the price under negative pressure that targets 1.3400 followed by 1.3226 levels as next main stations.
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