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Midday update for Brent oil 11-03-2020
Brent oil price broke 37.65 level and settles below it now, which hints the price head to return to the main bearish trend, which makes us prefer staying aside until the price confirms its situation according to the mentioned level.
Note that holding below it will press on the price to achieve negative targets that start at 33.70 followed by 31.60, while stepping above it will reactivat the intraday bullish trend scenario that targets testing 41.17 mainly.
The expected trading range for today is between 35.00 support and 39.00 resistance.
The expected trend for today: Neutral
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Midday update for Crude oil 11-03-2020
Crude oil price faces negative pressure to break 34.50 level and approaches the most important support at 33.20, which urges caution from the upcoming trading, as breaking the last level will stop the intraday positive scenario and push the price to return to the main bearish track, to head towards achieving negative targets that start at 30.00.
MoreMidday update for Silver 11-03-2020
Silver price shows slight bearish bias to test 16.96 level, and the price needs to hold above this level to keep the bullish trend scenario active for the upcoming period, as breaking it will put the price under negative pressure that targets testing 16.33 level initially, while our first positive target is located at 17.60.
MoreMidday update for Gold 11-03-2020
Gold price did not show any strong move since morning, to fluctuate around 1660.00, and as long as the price is above 1633.60, our bullish overview will remain valid for today, supported by the EMA50 that carries the price from below, reminding you that our waited targets begin at 1689.33 and extend to 1735.50.
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