Midday update for Crude oil 14-03-2023
Crude oil price broke 73.70 level strongly and settled below it, which supports the continuation of the expected bearish trend scenario efficiently for the upcoming period, opening the way to head towards our next main target that reaches 70.30.
Therefore, the bearish trend scenario will remain active for the rest of the day, supported by the EMA50 that forms negative pressure against the price, reminding you that the continuation of the bearish wave depends on the price stability below 75.64.
The expected trading range for today is between 71.80 support and 75.20 resistance.
The expected trend for today: Bearish
Midday update for Silver 14-03-2023
Silver price shows some bearish bias to approach testing the key support base 21.40, and the price needs to consolidate above this level to keep the bullish trend active, reminding you that our targets begin at 22.13 and extend to 23.05 after breaching the previous level.
Stochastic negativity interprets the reasons of the current negative fluctuation, while the expected bullish trend will remain valid unless breaking 21.40 followed by 20.64 levels and holding below them.
The expected trading range for today is between 21.35 support and 22.10 resistance.
The expected trend for today: Bullish
Midday update for Gold 14-03-2023
Gold price tests 1900.00 level now, affected by stochastic negativity, while the bullish trend still suggested for today depending on the price stability above 1878.80, waiting to visit 1928.60 followed by 1960.00 levels as next main stations.
The EMA50 continues to support the bullish wave, reminding you that breaking 1878.80 will push the price to decline towards 1828.70 as a next main station.
The expected trading range for today is between 1890.00 support and 1928.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 14-03-2023
The GBPUSD pair didn’t show any strong move since morning, to fluctuate around 1.2150 level, thus, no change to the expected bullish trend scenario for today, which targets 1.2260 followed by 1.2440 levels as next main stations, noting that we need to get positive motive that assists to push the price to achieve the suggested targets.
On the other hand, we should note that the continuation of the bullish wave depends on the price stability above 1.2070.
The expected trading range for today is between 1.2070 support and 1.2250 resistance.
The expected trend for today: Bullish