Midday update for Crude oil 25-05-2023
Crude oil price faces clear negative pressure to attack 73.80 level and moves below it, which urges caution from the upcoming trading, as confirming the break and consolidate below this level will stop the expected rise and push the price to decline towards 71.55 mainly.
Stochastic attempts to gather the positive momentum, waiting to motivate the price to resume the bullish wave and step above 73.80 to reinforce the chances of heading towards 76.10 as a next main target.
The expected trading range for today is between 72.80 support and 76.10 resistance.
The expected trend for today: Bullish
Midday update for Silver 25-05-2023
Silver price trades positively now to move away from 23.00 level, which urges caution from the upcoming trading, as continuing the rise and surpassing 23.15 will lead the price to continue the rise and test 23.70 before turning back to decline again.
Stochastic positivity interprets the reasons of the current rise, waiting to get negative motive that assists to push the price to resume the bearish wave and break 23.00 to rally towards 22.25 as a next negative target.
The expected trading range for today is between 22.50 support and 23.30 resistance.
The expected trend for today: Bearish
Midday update for Gold 25-05-2023
Gold prices shows some slight bullish bias, as it is affected by stochastic positivity, but as long as the price is below 1977.25, the bearish trend scenario will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our targets begin at 1945.20 and extend to 1913.15 after breaking the previous level.
Note that breaching 1977.25 will stop the negative scenario and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 1940.00 support and 1970.00 resistance.
The expected trend for today: Bearish
Midday update for the GBPUSD 25-05-2023
The GBPUSD pair trades positively after finding solid support at 1.2345 level, affected by stochastic positivity, waiting to get negative motive that assists to push the price to break the mentioned level and confirm opening the way to visit 1.2240 as a next correctional target.
We should note that the continuation of the rise and breaching 1.2385 will push the price to achieve additional gains and visit 1.2435 and might extend to 1.2470 before turning back to decline again.
The expected trading range for today is between 1.2260 support and 1.2400 resistance.
The expected trend for today: Bearish