Midday update for Crude oil 18-08-2022
Crude oil price trades with clear positivity to breach 87.85 level and attempts to hold above it, to hint activating the positive scenario in the upcoming sessions, on its way to achieve positive targets that start at 90.15 and extend to 94.50.
Therefore, the bullish bias will be suggested for the rest of the day unless breaking 87.85 and holding below it again.
The expected trading range for today is between 87.00 support and 90.50 resistance.
The expected trend for today: bullish for the rest of the day
Midday update for Silver 18-08-2022
Silver price crawls downwards to approach our first waited target at 19.55, waiting for more decline to visit 19.00 level that represents our next target, to continue suggesting the bearish trend for today as long as 20.00 level remains intact, noting that the EMA50 continues to support the expected bearish wave.
The expected trading range for today is between 19.10 support and 20.00 resistance.
The expected trend for today: Bearish
Midday update for Gold 18-08-2022
Gold price didn’t show any strong move since morning, to fluctuate around 1765.00 level, thus, no change to the expected bearish trend scenario for today, which depends on the price stability below 1779.25, reminding you that our targets begin at 1755.25 and extend to 1726.60 after surpassing the previous level.
The expected trading range for today is between 1750.00 support and 1780.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 18-08-2022
The GBPUSD pair attempted to break 1.2030 level but it couldn’t manage to hold below it, to remain stuck between the key levels represented by the mentioned support and 1.2140 resistance, to stay neutral until we get clearer signal for the next trend, noting that the expected targets after the breach are explained in our previous level.
The expected trading range for today is between 1.1960 support and 1.2140 resistance.
The expected trend for today: Neutral