Midday update for Crude oil 04-08-2022
Crude oil price touched our waited target at 89.60 and presses negatively on it, to support the expectations of extending the bearish wave, supported by the negative pressure formed by the EMA50, reminding you that breaking this level will push the price to 87.40 as a next negative target, while the expected decline will remain valid unless the price rallied to breach 91.65 and hold above it.
The expected trading range for today is between 87.40 support and 92.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 04-08-2022
Silver price resumes its positive trading to approach 20.50 level, waiting for more rise to breach this level and head towards 21.00, to keep our bullish trend scenario active supported by the EMA50 unless breaking 19.60 and holding below it.
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 04-08-2022
Gold price managed to breach 1779.25 level and attempts to hold above it, which supports the continuation of the expected bullish trend scenario for the upcoming period efficiently, opening the way to head towards our next positive target at 1802.80, noting that holding above 1779.25 represents the first condition to continue the suggested rise.
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 04-08-2022
The GBPUSD pair trades with strong negativity to break the bullish channel’s support line and attacks 1.2077, which urges caution from the upcoming trading, as continuing the negative pressure and breaking the mentioned level will stop the recently suggested positive scenario and push the price back to the main bearish track again, while the price needs to step above 1.2155 to confirm resuming the bullish wave that its next target located at 1.2360.
The expected trading range for today is between 1.2040 support and 1.2200 resistance.
The expected trend for today: Bullish