Midday update for Brent oil 17-11-2023
Brent oil price shows clear positive trades to move away from 77.44, which hints heading to achieve potential gains in the upcoming sessions, which makes us prefer to stay aside until we get clearer signal for the next trend.
Note that breaching 79.10 will push the price to continue the rise and head towards 81.00 as a next positive target, while breaking 77.44 represents the key to reactivate the negative scenario that its next target located at 74.65.
The expected trading range for today is between 76.20 support and 79.30 resistance.
The expected trend for today: Neutral
Midday update for Crude oil 17-11-2023
Crude oil price is testing the key resistance 73.73, affected by stochastic positivity, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active, which its next target located at 71.65.
On the other hand, we should note that confirming breaching 73.73 will push the price to turn to rise and build bullish wave that targets 75.85 areas initially.
The expected trading range for today is between 71.50 support and 74.50 resistance.
The expected trend for today: Bearish
Midday update for Silver 17-11-2023
Silver price resumes its positive trading to breach 24.00 barrier, which supports the continuation of the bullish trend in the upcoming sessions efficiently, and the way is open to achieve our main waited target at 24.60, reminding you that it is important to hold above 23.70 to continue the bullish wave and guarantee not turning to decline.
The expected trading range for today is between 23.60 support and 24.30 resistance.
The expected trend for today: Bullish
Midday update for Gold 17-11-2023
Gold price shows clear positivity trades to move away from the first key support at 1975.00, reinforcing the expectations of continuing the expected bullish trend for today, which gets positive support by the EMA50, reminding you that our expected targets begin at 2000.00 followed by 2009.30, while achieving them requires holding above 1975.00 and the most important above 1962.35.
The expected trading range for today is between 1970.00 support and 2005.00 resistance.
The expected trend for today: Bullish