Midday update for Brent oil 20-02-2024
Brent oil price crawls upwards to keep approaching 83.87 level, waiting to get positive motive that assist to push the price to surpass this level and open the way to rally towards our next positive target that reaches 85.55.
Therefore, the bullish trend scenario will remain valid and active unless breaking 82.70 and holding below it.
The expected trading range for today is between 82.30 support and 85.20 resistance.
The expected trend for today: Bullish
Midday update for Crude oil 20-02-2024
Crude oil price fluctuates within tight and sideways range since morning, and as long as the price is above 77.86, our bullish overview will remain valid and active for today, supported by the EMA50 that reinforces the chances of achieving more gains in the upcoming period, reminding you that our expected targets start at 79.15 followed by 80.00.
The expected trading range for today is between 77.30 support and 80.30 resistance
The expected trend for today: Bullish
Midday update for Silver 20-02-2024
Silver price attempts to surpass 23.00 level and trades above it again, reinforcing the expectations of continuing the bullish trend for the rest of the day, motivated by stochastic positivity that appears on the four hours’ time frame, reminding you that we are waiting to visit 23.70 as a next main target.
On the other hand, we should note that the stability below 23.00 will hint the weakness of the positive momentum to turn to decline and build bearish wave that targets 22.25 areas initially.
The expected trading range for today is between 22.70 support and 23.40 resistance.
The expected trend for today: Bullish
Midday update for Gold 20-02-2024
Gold price trades with slight positivity now, noticing that stochastic overlaps positively to support the chances of continuing the bullish bias in the upcoming sessions, to keep the bullish trend suggested on the intraday basis, waiting to visit 2065.70 as a next main target.
Moving above the EMA50 supports the expected bullish wave, which will remain valid conditioned by the price stability of the daily close above 2016.90.
The expected trading range for today is between 2005.00 support and 2035.00 resistance.
The expected trend for today: Bullish