Midday update for Crude oil 03-04-2020
Crude oil price traded with strong positivity this morning to breach 24.45 followed by 25.55 levels and open the way to head towards more recovery on the intraday and short term basis, making the bullish bias suggested in the upcoming sessions, and the next target represented by testing 27.65, noting that breaching this level will open the way to head towards 30.00 barrier on the near term basis.
On the other hand, note that the positive overview will remain valid unless breaking 25.55 and holding below it, which will press on the price to resume the main bearish trend and head towards 22.70 followed by 20.00 levels mainly.
The expected trading range for today is between 24.00 support and 28.00 resistance.
The expected trend for today: Bullish
Midday update for Silver 03-04-2020
Silver price keeps its stability above 14.17 level, which keeps the bullish trend scenario valid for today, which targets testing 15.08 level initially, reminding you that breaching it will extend the bullish wave to 16.00, while breaking 14.17 represents negative factor that will press on the price to decline again.
The expected trading range for today is between 14.00 support and 15.10 resistance.
The expected trend for today: Bullish
Midday update for Gold 03-04-2020
Gold price did not show any strong move since morning, to continue fluctuating around 1610.00 level, thus, no change to the bullish trend scenario that depends on the price stability above 1571.20, supported by the EMA50, noting that stochastic current negativity interprets the reasons of the recent sideways fluctuation, while our positive targets begin at 1633.60 and extend to 1689.30 after breaching the previous level.
The expected trading range for today is between 1590.00 support and 1650.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 03-04-2020
The GBPUSD pair faces negative pressure to break 1.2304 level and moves below it now, which urges caution from the upcoming trading, as confirming the break by closing the daily candlestick below this level will stop the correctional bullish scenario and push the price to resume the main bearish trend, which its targets begin at 1.2093 and extend to 1.1832.
The expected trading range for today is between 1.2200 support and 1.2550 resistance.
The expected trend for today: Bullish