Midday update for Crude oil 17-08-2022

Silver price faces clear negative pressure now to attack 20.00 level, which urges caution from the upcoming trading, as confirming breaking this level will stop the recently suggested positive scenario and press on the price to turn to decline, to head towards achieving negative targets that start at 19.55 and extend to 19.00.

Gold price resumes its negative trading after testing the EMA50, to settle below 1779.25 level, which keeps the bearish trend scenario active for today, supported by the negative overlapping signal provide by stochastic now, waiting to head towards 1755.25 as a next main target, reminding you that it is important to hold below 1779.25 to continue the expected decline.

The GBPUSD pair tested the key resistance 1.2140 and bounced bearishly from there, to remain stuck between the trend keys represented by the mentioned resistance and 1.2030 support, which keeps our neutrality valid until now, until the price manages to surpass one of these levels.