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Midday update for Brent oil 16-08-2022
Brent oil price didn’t show any strong move since morning, and as long as the price is below 97.40, our bearish overview will remain active, supported by the negative pressure formed by the EMA50, waiting to get negative motive that assist to push the price to resume the decline that targets 94.00 followed by 92.00 levels mainly.
The expected trading range for today is between 93.50 support and 97.60 resistance.
The expected trend for today: Bearish
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Midday update for Crude oil 16-08-2022
Crude oil price shows sideways trading since morning, noticing that stochastic loses the positive momentum gradually, waiting to motivate the price to resume the bearish wave that its next main target is located at 85.00, taking into consideration that the continuation of the bearish trend depends on the price stability below 89.60.
MoreMidday update for Silver 16-08-2022
Silver price continues to fluctuate at the key support 20.00, and as long as the price is above this level, our bullish overview will remain valid and active for today, supported by stochastic positivity, noting that our next main target is located at 21.20.
MoreMidday update for Gold 16-08-2022
Gold price faces negative pressure to attack 1779.25 level, which urges caution from the upcoming trading, as breaking this level will stop the recently suggested positive scenario and press on the price to decline towards 1755.25 before any new attempt to rise, noting that the consolidation above 1779.25 is required to resume the bullish wave that its first target located at 1802.80.
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