Midday update for Brent oil 14-10-2021
Brent oil price trades positively to move away from the breached resistance of the bullish flag pattern, to support the expectations of continuing the bullish trend in the upcoming sessions, waiting for more rise to visit 84.20 as a first target, noting that breaching this level will extend the bullish wave to reach 85.15, while holding above 83.15 represents key condition to achieve the suggested targets.
The expected trading range for today is between 82.00 support and 85.00 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 14-10-2021
Crude oil price confirmed the bullish flag pattern after consolidating above its breached resistance line, which supports the continuation of our bullish overview efficiently for the rest of the day, and the way is open to head towards our first expected target at 82.70, noting that the EMA50 continues to support the bullish wave, which will remain valid unless breaking 79.40 and holding below it.
The expected trading range for today is between 79.60 support and 82.50 resistance.
The expected trend for today: Bullish
Midday update for Silver 14-10-2021
Silver price shows new positive trades to test the main bearish channel’s resistance, and we need to monitor the upcoming trades, as holding below this resistance represents major condition to continue the expected bearish trend for today, noting that breaching this resistance at 23.30 will push the price to exit the bearish channel and turn to rise, while the waited negative targets begin at 22.90 and extend to 21.65.
The expected trading range for today is between 22.40 support and 23.30 resistance.
The expected trend for today: Bearish
Midday update for Gold 14-10-2021
Gold price returns to test 1797.00 level, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the negative scenario valid for today, which targets 1770.00 level initially, reminding you that breaching 1797.00 will push the price to continue the rise and head towards 1825.15 as a next positive target.
The expected trading range for today is between 1770.00 support and 1800.00 resistance.
The expected trend for today: Bearish