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Brent oil price hits the first target – Analysis - 17-08-2022
Brent oil price succeeded to achieve our first extended target at 94.00 and settles near it, and we suggest the continuation of the negative pressure to surpass this level and head towards our next station that reaches 92.00.
Therefore, the bearish trend scenario will remain valid and active for the upcoming period, noting that the EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 96.20.
The expected trading range for today is between 92.50 support and 96.20 resistance.
The expected trend for today: Bearish
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Crude oil price attacks the recorded low – Analysis - 17-08-2022
Crude oil price presses negatively on 86.36 level and attempts to confirm breaking it, reinforcing the expectations of continuing the bearish trend, paving the way to achieve more negative targets that start at 85.00 and extend to 84.00.
MoreSilver price continues to fluctuate - Analysis - 17-08-2022
Silver price didn’t show any strong move in the previous sessions, and continues to move at 20.00 level, thus, no change to the bullish trend scenario that depends on the price stability above this level, waiting to get positive motive that assists to push the price to resume the bullish wave that targets 21.20 mainly.
MoreGold price breaks the support – Analysis - 17-08-2022
Gold price ended yesterday below 1779.25 level, to fall under expected negative pressure in the upcoming sessions, targeting visiting 1755.25 mainly.
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