Midday update for Brent oil 21-10-2022

Crude oil price managed to break 84.60 level to return to the intraday bearish channel again, which supports the continuation of the expected bearish trend efficiently in the upcoming sessions, opening the way to achieve our negative targets that start at 82.30 and extend to 80.00, reminding you that the continuation of the bearish wave depends on the price stability below 86.60.

Silver price resumes its negative trades clearly now, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, supported by the EMA50 and stochastic, reminding you that our first target is located at 18.00, which breaking it represents the key to rally towards 17.60 direct, while holding below 18.80 represents key condition to continue the expected decline.

Gold price shows more decline to reach our waited target at 1615.00, and we expect the continuation of the bearish bias within the bearish channel that appears on the chart to test 1600.00$ per ounce barrier as a next station, to continue suggesting the bearish trend for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that it is important to hold below 1640.00 to continue the suggested decline.