Midday update for Crude oil 16-08-2022
Crude oil price shows sideways trading since morning, noticing that stochastic loses the positive momentum gradually, waiting to motivate the price to resume the bearish wave that its next main target is located at 85.00, taking into consideration that the continuation of the bearish trend depends on the price stability below 89.60.
The expected trading range for today is between 85.00 support and 90.00 resistance.
The expected trend for today: Bearish
Midday update for Silver 16-08-2022
Silver price continues to fluctuate at the key support 20.00, and as long as the price is above this level, our bullish overview will remain valid and active for today, supported by stochastic positivity, noting that our next main target is located at 21.20.
The expected trading range for today is between 19.90 support and 20.80 resistance.
The expected trend for today: Bullish
Midday update for Gold 16-08-2022
Gold price faces negative pressure to attack 1779.25 level, which urges caution from the upcoming trading, as breaking this level will stop the recently suggested positive scenario and press on the price to decline towards 1755.25 before any new attempt to rise, noting that the consolidation above 1779.25 is required to resume the bullish wave that its first target located at 1802.80.
The expected trading range for today is between 1770.00 support and 1800.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 16-08-2022
The GBPUSD pair attempts to break 1.2030 but it finds solid support there, waiting for confirmed break to open the way to rally towards 1.1930 followed by 1.1800 as next main stations, to continue suggesting the bearish trend in the upcoming sessions conditioned by the price stability below 1.2125.
The expected trading range for today is between 1.1960 support and 1.2120 resistance.
The expected trend for today: Bearish