Midday update for Crude oil 08-11-2019
Crude oil price traded with clear negativity to start pressing on the EMA50, reinforcing the expectations of continuing the bearish trend for the rest of the day, as the price approaches our first waited target at 56.00, waiting for more decline to visit 54.60 level as a next main station, reminding you that the continuation of the expected decline conditions holding below 57.40.
The expected trading range for today is between 54.60 support and 58.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 08-11-2019
Silver price continues to fluctuate at 16.96 level, waiting to break this level to confirm the extension of the bearish wave towards 16.33 level that represents 61.8% Fibonacci correction level for the rise measured from 14.28 to 19.64, to keep our bearish trend expectations for today unless the price rallied to breach 17.60 level and hold above it.
The expected trading range for today is between 16.60 support and 17.20 resistance.
The expected trend for today: Bearish
Midday update for Gold 08-11-2019
Gold price resumes its negative trading on its way to head towards our waited target at 1447.00, to keep the bearish trend active for the rest of the day, supported by the negative pressure formed by the EMA50, reminding you that the continuation of the expected decline requires holding below 1489.00, while surpassing the first target represents the key to rally towards 1413.00 direct.
The expected trading range for today is between 1447.00 support and 1480.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 08-11-2019
The GBPUSD pair keeps its stability below 1.2840 level, and we still waiting to break 1.2800 level to confirm the continuation of the bearish trend in the upcoming sessions, depending on the formation of the double top pattern that its signs appear on the chart, waiting to visit 1.2670 as a next main target, noting that the continuation of the expected decline conditions the price stability below 1.2840 and 1.2865 levels.
The expected trading range for today is between 1.2720 support and 1.2900 resistance.
The expected trend for today: Bearish