Midday update for Brent oil 05-08-2022
Brent oil price shows slight bearish bias now, to support the continuation of the expected bearish trend scenario for today, which moves organized inside the bearish channel that has negative targets that reach 95.90 followed by 90.45, while the expected decline will remain valid unless the price rallied to breach 99.00 and hold above it.
The expected trading range for today is between 95.00 support and 99.20 resistance.
The expected trend for today: Bearish
Midday update for Crude oil 05-08-2022
Crude oil price resumes its negative trades now, waiting for more decline to achieve our extended negative targets that start at 85.90 followed by 84.55, noting that breaking 87.40 will reinforce the expectations to decline, while holding below 91.15 represents key condition to continue the suggested bearish wave.
The expected trading range for today is between 85.90 support and 90.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 05-08-2022
Silver price tests the minor support 20.00, while the EMA50 continues to support the price from below, waiting to resume the bullish wave that targets 20.50 followed by 21.00 levels as next main stations, reminding you that the continuation of the bullish wave requires holding above 19.60.
The expected trading range for today is between 19.90 support and 20.80 resistance.
The expected trend for today: Bullish
Midday update for Gold 05-08-2022
Gold price fluctuates with slight negativity, and it might test the key support base 1779.25 before turning back to rise again, as it is affected by stochastic negativity.
In general, the bullish trend scenario still valid as long as 1779.25 and the most important 1755.70 levels remain intact, reminding you that our targets begin by breaching 1802.80 to open the way to head towards 1831.95.
The expected trading range for today is between 1775.00 support and 1810.00 resistance.
The expected trend for today: Bullish