Midday update for Brent oil 24-01-2023
Brent oil price trades negatively to move below 88.20, which might push the price to test the bullish channel’s support line around 86.40 before any new attempt to rise.
Now, we prefer to stay aside until we get clearer signal for the next trend through breaching one of the mentioned levels, noting that breaching 88.20 resistance will lead the price to resume the bullish wave that its next target located at 90.35. while breaking the support will push the price to suffer additional losses that reach 85.10.
The expected trading range for today is between 86.50 support and 89.00 resistance.
The expected trend for today: Neutral
Midday update for Crude oil 24-01-2023
Crude oil price faces negative pressure to approach testing the bullish channel’s support line, and as we mentioned this morning, the price needs to hold above this support at 80.20 to keep the bullish trend active for today, as breaking it will push the price to achieve additional decline that targets 78.95 before any new attempt to rise, while breaching 81.60 represents the key to rally towards our next positive targets that start at 82.70 followed by 84.25.
The expected trading range for today is between 80.20 support and 83.20 resistance.
The expected trend for today: Bullish
Midday update for Silver 24-01-2023
Silver price finds difficulty to continue the rise, affected by stochastic negativity, and it might show some temporary sideways fluctuation before resuming the bullish bias again.
Until now, the bullish trend scenario still active as long as 23.05 level remains intact, reminding you that our waited targets begin at 24.05 followed by 24.55.
The expected trading range for today is between 23.20 support and 24.10 resistance.
The expected trend for today: Bullish
Midday update for Gold 24-01-2023
Gold price fluctuates around 1935.00 level, waiting to get positive motive that assist to push the price to continue the rise and head towards our next main target that reaches 1950.00.
In general, the bullish trend scenario will remain active for today unless breaking 1925.00 and holding below it.
The expected trading range for today is between 1920.00 support and 1955.00 resistance.
The expected trend for today: Bullish