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Midday update for Brent oil 04-10-2021
Brent oil price fluctuates around 79.00 level, and attempts to approach gradually from our first waited target at 79.90, to keep the bullish trend scenario valid and active for today, which its targets extend to 82.00 after surpassing the previous level, noting that holding above 78.55 is important to continue the expected rise.
The expected trading range for today is between 77.60 support and 80.50 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 04-10-2021
Crude oil price shows calm positive trades to crawl gradually towards the first waited target at 76.64, expecting to breach this level to open the way to head towards 79.00 as a next main station, noting that the EMA50 continues to protect the bullish wave inside the bullish channel that appears on the chart, which will remain valid conditioned by the price stability above 74.65.
MoreMidday update for Silver 04-10-2021
Silver price begins to rebound bearishly after testing the bearish channel’s resistance, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, waiting to head towards 21.65 as a first main station, reminding you that it is important to hold below 22.90 to continue the expected bearish trend.
MoreMidday update for Gold 04-10-2021
Gold price resumes its negative trades clearly after consolidating below the bearish channel’s resistance, motivated by stochastic negativity, waiting for more decline for the rest of the day to visit 1735.00 mainly, reminding you that the continuation of the bearish wave depends on the price stability below 1770.00.
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