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Midday update for Brent oil 30-05-2023
Brent oil price trades with strong negativity to start pressing on the key support 75.80, to stop the morning suggested positive scenario and head towards potential decline, and we prefer to stay aside until we get clearer signal for the next trend, through breaking 75.80 support or breaching 76.80 resistance.
Note that breaking the mentioned support will push the price to suffer additional losses that reach 74.30, while breaching the resistance represents the key to reactivate the positive scenario that its next target located at 78.90.
The expected trading range for today is between 74.80 support and 77.00 resistance.
The expected trend for today: Neutral
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Midday update for Crude oil 30-05-2023
Crude oil price is facing strong negative pressure to attack 71.55 level and attempts to confirm breaking it, which hints heading to decline in the upcoming sessions, paving the way to achieve negative targets that reach 68.75.
MoreMidday update for Silver 30-05-2023
Silver price tested the key support 23.00 but it couldn’t manage to break it, to show positive trades and head towards potential test to the bearish channel’s resistance, and as long as the price is below 23.30, the bearish trend scenario will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our next main target reaches 22.25.
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Gold prices declined this morning but it returns to fluctuate near 1945.20 level, waiting to get negative motive that assists to push the price to resume the bearish wave that targets 1913.15 level as a next main station.
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