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Midday update for Brent oil 18-07-2018
Brent oil price shows negative trading now that hints resuming the recently suggested bearish trend scenario, depending on the price stability below 72.00 that forms negative pressure against the intraday trading, reminding you that the price is affected by the previously completed double top pattern, which supports the chances of achieving our initial targets that begin at 70.00 followed by 67.50.
Therefore, the bearish bias will remain dominant in the upcoming sessions unless breaching 72.45 followed by 74.00 levels and holding above them.
Expected trading range for today is between 70.00 support and 73.00 resistance.
Expected trend for today: Bearish
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Midday update for Crude oil 18-07-2018
Crude oil price keeps its stability below 68.06 level, to keep the negative pressure valid for today, supported by the negative overlapping signal provided by stochastic now, waiting to target 65.90 level as a next main station, while holding below 68.06 represents the first condition to continue the expected decline, as breaching it will push the price to test 69.44 areas before any new attempt to decline.
MoreMidday update for Silver 18-07-2018
Silver price resumes its negative trading to break 15.49 level and moves below it now, which supports the continuation of our bearish overview efficiently for the rest of the day, as our next targets are located at 15.15 followed by 14.77, reminding you that holding below 15.80 represents key condition to achieve the suggested targets.
MoreMidday update for Gold 18-07-2018
Gold price shows more decline to press on the bearish channel’s support line that appears on the chart, which supports the continuation of the bearish trend on the intraday and short term basis, which its next main target located at 1204.80, noting that the expected decline depends on holding below 1243.00.
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