Midday update for Crude oil 17-03-2023
Crude oil price keeps its consolidation below 69.25 level, accompanied by stochastic reach to the overbought aeras, waiting to resume the expected bearish wave on the intraday and short term basis, which its next targets located at 67.65 followed by 65.70.
Therefore, we will keep our bearish overview that gets good support by the EMA50, reminding you that it is important to hold below 69.25 to achieve the waited targets.
The expected trading range for today is between 67.00 support and 70.50 resistance.
The expected trend for today: Bearish
Midday update for Silver 17-03-2023
Silver price shows some slight bearish bias, waiting to get more positive momentum to reinforce the chances of continuing the bullish trend and achieve our targets that start at 22.13 and extend to 23.05 after surpassing the previous level.
In general, the bullish trend will remain valid unless breaking 21.40 and holding below it, noting that the EMA50 continues to support the expected bullish wave.
The expected trading range for today is between 21.50 support and 22.40 resistance.
The expected trend for today: Bullish
Midday update for Gold 17-03-2023
Gold price managed to breach 1928.60 level and attempts to build support base above it, reinforcing the expectations of continuing the bullish trend on the intraday and short term basis, and the way is open to head towards our next target that reaches 1960.00.
Stochastic overlaps positively to add more support to the expected bullish trend, besides the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave requires holding above 1907.00.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 17-03-2023
The GBPUSD pair shows weak trades since morning, thus, no change to the expected bullish trend scenario for today, which gets continuous support by the EMA50, waiting to visit 1.2260 that represents our next main target, reminding you that the continuation of the bullish wave requires holding above 1.2060.
The expected trading range for today is between 1.2060 support and 1.2230 resistance.
The expected trend for today: Bullish