Midday update for Brent oil 22-09-2022
Brent oil price shows clear bullish bias now to move away from 90.20 level, to hint heading to visit 93.30 areas initially, which urges caution from the upcoming trading and makes us prefer to stay aside until we get clearer signal for the next trend, noting that the continuation of the rise and breaching 93.30 will push the price to achieve additional gains on the intraday and short term basis, while breaking 90.20 will revive the main bearish trend that its next target located at 88.25.
The expected trading range for today is between 89.00 support and 93.00 resistance.
The expected trend for today: Neutral
Midday update for Crude oil 22-09-2022
Crude oil price trades positively now, affected by stochastic positivity, while the EMA50 forms continuous negative pressure against the price, to keep the chances valid to continue the expected bearish trend for today unless the price continued to rise to breach 85.15 followed by 85.80 levels, reminding you that our main waited targets begin at 82.00 and extend to 80.00.
The expected trading range for today is between 81.00 support and 85.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 22-09-2022
Silver price rallies upwards now to attack 19.60 level and attempts to hold above it, which urges caution from the upcoming trading, as confirming the breach will lead the price to continue the rise and achieve positive targets that start by visiting 20.00 barrier, while consolidating below it will press on the price to resume the decline that its targets begin at 19.20 followed by 18.80.
The expected trading range for today is between 18.80 support and 19.80 resistance.
The expected trend for today: Bearish
Midday update for Gold 22-09-2022
Gold price returns to rise strongly to test the bearish channel’s resistance, and as we mentioned in our recent reports, the price needs to consolidate below 1680.00 to keep the bearish trend scenario active, as breaching it will lead the price to achieve new gains that start at 1690.00 and extend to 1710.00, while breaking 1665.00 is required to reinforce the chances of resuming the bearish trend that its next main target located at 1644.00.
The expected trading range for today is between 1650.00 support and 1685.00 resistance.
The expected trend for today: Bearish