Midday update for Crude oil 01-08-2022
Crude oil price trades with clear negativity now to break 96.05 level and attempts to hold below it, which supports the continuation of the expected bearish trend scenario efficiently for the upcoming period, opening the way to head towards our negative targets that start at 92.45 and extend to 89.60, taking into consideration that the continuation of the bearish wave depends on the price stability below 98.25.
The expected trading range for today is between 93.00 support and 98.25 resistance.
The expected trend for today: Bearish
Midday update for Silver 01-08-2022
Silver price shows bullish bias now to approach 20.50 level, and we expect the continuation of the bullish bias to breach this level and extend the bullish wave towards 21.00, to keep the bullish trend valid and active unless breaking 20.00 followed by 19.60 levels and holding below them.
The expected trading range for today is between 19.80 support and 20.60 resistance.
The expected trend for today: Bullish
Midday update for Gold 01-08-2022
Gold price tests the key resistance 1767.70 now, which represents one of the next trend keys besides 1755.70 support, and as we mentioned this morning, the price needs to surpass one of these levels to detect its next destination clearly, which keeps our neutrality until now.
To review the expected targets after the beach, please check our morning report.
The expected trading range for today is between 1740.00 support and 1780.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 01-08-2022
The GBPUSD pair resumes its bullish rally to surpass 1.2200 level and attempts to hold above it, reinforcing the expectations of continuing the bullish trend for the rest of the day, and the way is open to achieve our next target at 1.2285, noting that breaching it will extend the bullish wave to reach 1.2490, while holding above 1.2077 represents key condition to achieve the suggested targets.
The expected trading range for today is between 1.2100 support and 1.2290 resistance.
The expected trend for today: Bullish