Midday update for Crude oil 03-08-2022
Crude oil price resumes its negative trades to press on the breached resistance of the bearish channel and attempts to break this support formed at 92.45, reinforcing the expectations of continuing the bearish trend for the rest of the day, which its next main target located at 89.60, noting that the EMA50 supports the suggested bearish wave, which will remain valid conditioned by the price stability below 94.50 and the most important below 95.50.
The expected trading range for today is between 89.60 support and 95.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 03-08-2022
Silver price fluctuates around 20.00 level and still below it, waiting to activate the positive effect of stochastic to rally towards our positive targets that start at 20.50 and extend to 21.00 after surpassing the previous level, taking into consideration that the continuation of the bullish wave depends on the price stability above 19.60.
The expected trading range for today is between 19.60 support and 20.50 resistance.
The expected trend for today: Bullish
Midday update for Gold 03-08-2022
Gold price didn’t show any strong move since morning, and as long as the price is above 1755.70, our bullish overview will remain valid, supported by stochastic and the EMA50 positivity, reminding you that our targets begin at 1779.25 and extend to 1802.80 after surpassing the previous level.
The expected trading range for today is between 1755.00 support and 1790.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 03-08-2022
The GBPUSD pair fluctuates positively to move at 1.2200 level, noticing that stochastic overlaps positively to support the chances of continuing the expected bullish trend for today, which depends on the price stability above 1.2115 and 1.2077 levels, while its first main target located at 1.2340.
The expected trading range for today is between 1.2100 support and 1.2265 resistance.
The expected trend for today: Bullish