Midday update for Crude oil 19-10-2021
Crude oil price trades with clear positivity to attack 82.85 level and attempts to hold above it, which makes us prefer staying neutral until the price confirms its situation according to this level, as confirm the breach followed by breaching 83.85 will stop the correctional bearish scenario and lead the price to resume the main bullish track again, while trading below 82.85 will press on the price to decline towards 81.75 initially.
The expected trading range for today is between 82.00 support and 84.00 resistance.
The expected trend for today: Neutral
Midday update for Silver 19-10-2021
Silver price continues the bullish rally to approach 24.00 barrier, which supports the expectations of continuing the bullish trend in the upcoming sessions, which targets 24.20 as a next main station, noting that we suggest the surpass the mentioned level affected by the previously completed inverted head and shoulders’ pattern, while the expected rise will remain valid unless breaking 23.15 and holding below it.
The expected trading range for today is between 23.15 support and 24.00 resistance.
The expected trend for today: Bullish
Midday update for Gold 19-10-2021
Gold price shows more bullish bias to move away from 1770.00 level, reinforcing the expectations of continuing the bullish trend for the rest of the day, and the way is open to head towards our next main target at 1797.00, noting that moving above the EMA50 supports the suggested positive scenario, which will remain valid unless breaking 1770.00 and holding below it.
The expected trading range for today is between 1760.00 support and 1795.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 19-10-2021
The GBPUSD pair managed to reach the waited target at 1.3795 and we expect to surpass this level to open the way to achieve more gains in the upcoming sessions, as breaching this level represents the key to rally towards 1.3910 as a next positive station, noting that the EMA50 continues to support the expected bullish wave, which will remain valid conditioned by the price stability above 1.3720.
The expected trading range for today is between 1.3690 support and 1.3850 resistance.
The expected trend for today: Bullish