Midday update for Crude oil 03-03-2021
Crude oil price trades positively now to breach 60.10 level and moves above the bullish channel’s support line, which urges caution from the upcoming trading, as continuing the rise and surpassing 61.15 will push ther pice to achieve more gains and return to the main bullish track again, while the price needs to break 60.10 and trading below it again to resume the correctional bearish scenario that its next target located at 56.64.
The expected trading range for today is between 58.00 support and 61.15 resistance.
The expected trend for today: Bearish
Midday update for Silver 03-03-2021
Silver price did not show any strong move since morning, to remain stable around 26.70 level, thus, no change to the bearish trend scenario that depends on the price stability below 27.15, while our next main target is located at 25.50.
The expected trading range for today is between 26.00 support and 27.15 resistance.
The expected trend for today: Bearish
Midday update for Gold 03-03-2021
Gold price shows negative trades that hint heaing to activate the negative scenario again, but the price still stuck between the trend keys represented by 1720.00 support and 1749.00 resistance, which makes us continue with our neutrality until confirming breaching one of these levels.
To review the details of the expected targets after the breach, please check our previous report.
The expected trading range for today is between 1715.00 support and 1750.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 03-03-2021
The GBPUSD pair trades with clear positivity now to breach 1.3975 and begins testing 1.4000 level, which urges caution from the upcoming trading, as breaching the last level will push the price to achieve more gains and turn to rise to achieve positive targets that start at 1.4100 and extend to 1.4230, while breaking 1.3975 followed by 1.3905 levels will reactivate the bearish trends scenario that its next target located at 1.3775.
Therefore, we prefer staying aside now until we get clearer signal for the next trend.
The expected trading range for today is between 1.3870 support and 1.4070 resistance.
The expected trend for today: Neutral