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Midday update for Brent Oil 01-08-2016
Brent oil price trades with clear negativity after it found solid resistance at 43.85 level, which represents one of the next trend keys mentioned in our morning report, to start the pressure on the key support 43.00 in attempt to break it, which urges monitoring the upcoming trades carefully, as getting four hours close below the last level will put the price under more negative pressure followed by opening the way to head towards 39.96 as a next main station.
On the other hand, breaching 43.85 level will lead the price to recover and target 46.76 areas initially, thus, we will continue with our neutrality until the price provides clearer confirmation signal for the next trend through breaching one of the above mentioned levels.
Expected trading range for today is between 41.00 support and 45.50 resistance.
Expected trend for today: Depends on the above mentioned levels
Thanks for your feedback.
Midday update for Crude Oil 01-08-2016
Crude oil price bounced bearishly after retesting 41.87 level, which supports the continuation of our bearish overview for efficiently for the upcoming period, reinforced by stochastic negativity that appears clearly on the four hours' time frame, and the way is open to continue the decline towards our main waited target at 38.84.
MoreMidday update for Silver 01-08-2016
Silver price did not show any strong move since morning, to fluctuate around 20.50 level, and as long as the price is above 19.35 level, our bullish overview will remain valid and active for today, waiting to breach the previously recorded top at 21.12 to open the way to head towards 22.00 followed by 22.40 levels.
MoreMidday update for Gold 01-08-2016
Gold price shows weak trading since morning to hover around 1250.00 level, as the price is affected by stochastic negativity, while the EMA50 keeps supporting the price from below.
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