Midday update for Crude oil 19-09-2019
Crude oil price shows some of the bullish bias now to fluctuate near 58.50, and the effect of stochastic positivity remains valid, as we mentioned this morning, the price needs to break 57.42 support level to confirm the extension of the bearish wave on the short term basis, where the next target is located at 54.60, reminding you that the stability of the mentioned support will stop the expected decline and pushes the price to achieve more of the gains that reach to 60.92 before any new negative attempt.
The expected trading range for today is between 56.00 support and 59.30 resistance.
The expected trend for today: Bearish
Midday update for Silver 19-09-2019
Silver price shows weak trading since morning and its remains near 17.60, waiting for breaking this level to confirm the extension of the bearish wave ro 16.95 level that represents our next main target.
In general, our bearish trend expectations will remain active if the price settled below 18.40 level.
The expected trading range for today is between 17.40 support and 17.75 resistance.
The expected trend for today: Bearish
Midday update for Gold 19-09-2019
Gold price shows a bullish bias to head to the critical resistance at 1505.00, which represents one of the next trend keys besides 1485.00 support, as we mentioned this morning, the price needs to breach one of these levels to detect its next trend clearly, which keeps our neutral attitude valid until now.
To recognize the details of the expected targets from breaching the mentioned levels, please review our morning report.
The expected trading range for today is between 1475.00 support and 1525.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 19-09-2019
The GBPUSD pair resumes its positive trading to test 1.2520 level, waiting for confirming the breach to reinforce the continuation of the expected bullish trend in the upcoming period, keeping the positive scenario active for today, conditioned by holding above 1.2455, reminding you that our next target at 1.2670.
Note that its required to be aware in the upcoming trading, where we are waiting for the issuance of the BOE rate decision, which might cause mixed and strong trading for the GBPUSD pair.
The expected trading range for today is between 1.2380 support and 1.2580 resistance.
The expected trend for today: Bullish