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Midday update for Crude oil 07-08-2020

Economies.com
2020-08-07 10:22AM UTC

Crude oil price shows negative trades to approach the key support 41.05, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario valid for the upcoming period, supported by the EMA50, reminding you that our waited targets begin at 43.05 and extend to 45.00.

 

The expected trading range for today is between 40.50 support and 43.50 resistance.

The expected trend for today: Bullish

Midday update for Silver 07-08-2020

Economies.com
2020-08-07 10:22AM UTC

Silver price shows negative trades to test 28.00$ barrier, to keep the bearish trend scenario valid and active for today, supported by stochastic negativity, waiting to test 26.20 followed by 25.50 levels mainly, reminding you that breaching 29.75 will stop the negative scenario and push the price to continue the main bullish trend.

 

The expected trading range for today is between 27.00 support and 29.50 resistance.

 

The expected trend for today: Bearish

Midday update for Gold 07-08-2020

Economies.com
2020-08-07 10:22AM UTC

Gold price shows sideways trading since morning and hovers around 2060.00, getting continuous positive support by the EMA50, while stochastic begins to lose its negative momentum gradually.

 

In general, we will continue to suggest the bullish trend for today unless breaking 2048.00 level and holding below it, which will press on the price to decline towards 2010.00 initially, while our main targets begin at 2083.00 and extend to 2150.00 after breaching the previous level.

 

The expected trading range for today is between 2030.00 support and 2095.00 resistance.

 

The expected trend for today: Bullish

Midday update for the GBPUSD 07-08-2020

Economies.com
2020-08-07 10:22AM UTC

The GBPUSD pair continues to decline to move below 1.3100 barrier, reinforcing the expectations of continuing the bearish trend for the rest of the day, which targets visiting 1.2965 level mainly, taking into consideration that breaching 1.3185 will stop the suggested decline and push the price to resume the bullish trend again.

 

The expected trading range for today is between 1.3010 support and 1.3290 resistance.

 

The expected trend for today: Bearish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $68.686 (2025-07-11 22:15PM UTC)