Midday update for Crude oil 17-11-2023
Crude oil price is testing the key resistance 73.73, affected by stochastic positivity, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active, which its next target located at 71.65.
On the other hand, we should note that confirming breaching 73.73 will push the price to turn to rise and build bullish wave that targets 75.85 areas initially.
The expected trading range for today is between 71.50 support and 74.50 resistance.
The expected trend for today: Bearish
Midday update for Silver 17-11-2023
Silver price resumes its positive trading to breach 24.00 barrier, which supports the continuation of the bullish trend in the upcoming sessions efficiently, and the way is open to achieve our main waited target at 24.60, reminding you that it is important to hold above 23.70 to continue the bullish wave and guarantee not turning to decline.
The expected trading range for today is between 23.60 support and 24.30 resistance.
The expected trend for today: Bullish
Midday update for Gold 17-11-2023
Gold price shows clear positivity trades to move away from the first key support at 1975.00, reinforcing the expectations of continuing the expected bullish trend for today, which gets positive support by the EMA50, reminding you that our expected targets begin at 2000.00 followed by 2009.30, while achieving them requires holding above 1975.00 and the most important above 1962.35.
The expected trading range for today is between 1970.00 support and 2005.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 17-11-2023
The GBPUSD pair traded with clear negativity to complete forming the double top pattern that appears on the chart, to support the continuation of the expected bearish trend for today, waiting to break 1.2380 level to confirm rallying towards our next target at 1.2297.
Stochastic continues to provide the negative signals that reinforce the expectations to decline, reminding you that it is important to hold below 1.2460 to continue the expected bearish trend.
The expected trading range for today is between 1.2320 support and 1.2460 resistance.
The expected trend for today: Bearish