Midday update for Sugar price 13-05-2022
Sugar price surpassed 18.70 level to test the bearish channel’s resistance now, which urges caution from the upcoming trading, as breaching 18.85 will push the price to achieve more gains and head to visit 19.16 level initially, while breaking 18.70 and trading below it again will reactivate the negative scenario that targets 18.25 level as a next station.
Therefore, we prefer to stay neutral until the price confirms breaching one of the above mentioned levels to detect its next destination clearly.
The expected trading range for today is between 18.40 support and 19.15 resistance
The expected trend for today: Neutral
Midday update for Brent oil 13-05-2022
Brent oil price fluctuates with slight negativity now, to test the EMA50 that forms intraday support that protects the expected positive scenario for today, which its first target located at 110.05, noting that breaking 105.05 will stop the suggested rise and press on the price to turn to decline.
The expected trading range for today is between 106.50 support and 111.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 13-05-2022
Crude oil price shows some bearish bias to approach testing the key support base 104.60, and as long as the price is above this level, our bullish overview will remain valid for today, which targets 109.15 level mainly, noting that breaking the mentioned support will press on the price to achieve some bearish correction before attempting to rise again.
The expected trading range for today is between 104.00 support and 109.15 resistance.
The expected trend for today: Bullish
Midday update for Silver 13-05-2022
Silver price fluctuates at 20.75 level and attempts to press negatively on it, to continue suggesting the bearish trend for the upcoming period, noting that our next main target is located at 20.20, while breaching 21.00 represents the key to start correctional bullish wave on the intraday basis before turning back to decline again.
The expected trading range for today is between 20.30 support and 21.10 resistance.
The expected trend for today: Bearish