Midday update for Brent oil 04-12-2023
Brent oil price shows more bearish bias to approach the second waited target at 77.44, reminding you that the continuation of the decline and breaking this level will push the price to achieve more negative targets, which extend to 76.00 as a next negative station.
Therefore, the bearish trend scenario will remain valid unless the price rallied to breach 81.00 and hold above it.
The expected trading range for today is between 76.80 support and 79.80 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 04-12-2023
Crude oil price begins to break 73.73 level and attempts to hold below it, reinforcing the expectations of continuing the bearish trend for the rest of the day, paving the way to achieve new negative targets that start at 72.20 and extend to 70.00, noting that failing to confirm the break will push the price to attempt to bullish wave and achieve gains that reach 77.86.
The expected trading range for today is between 71.80 support and 74.80 resistance.
The expected trend for today: Bearish
Midday update for Silver 04-12-2023
Silver price trades with clear negativity to move away from 25.50 level and hint heading to decline for the rest of the day, making the bearish bias suggested in the upcoming sessions, supported by stochastic negativity, noting that the expected targets reach 24.60, while breaching 25.50 will stop the negative scenario and push the price to rise again.
The expected trading range for today is between 24.90 support and 25.50 resistance.
The expected trend for today: Bearish for the rest of the day
Midday update for Gold 04-12-2023
Gold price faces clear negative pressures to attack the key support 2075.25, which urges caution from the upcoming trading, as breaking this level represents negative factor that will force the price to turn to decline and it might head towards 2035.00 followed by 2000.00 as next main stations, while consolidating above the mentioned support will push the price to resume the bullish trend that its first target located at 2100.00.
The expected trading range for today is between 2060.00 support and 2110.00 resistance.
The expected trend for today: Bullish