Midday update for Crude oil 27-10-2021
Crude oil price faces negative pressure to approach the key support 82.85, which urges caution from the upcoming trading, especially that we are witnessing the formation of potential negative pattern that its confirmation line located at the mentioned support, which means that breaking this line will push the price to head towards 81.30 direct.
Until now, the positive scenario still valid unless breaking 82.85 and holding below it, noting that our initial targets are located at 85.40 – 85.85.
The expected trading range for today is between 82.50 support and 85.00 resistance.
The expected trend for today: Bullish
Midday update for Silver 27-10-2021
Silver price shows calm bearish bias to move away gradually from 24.20 level, reinforcing the expectations of continuing the bearish trend, which its main target located at 23.15, reminding you that the continuation of the bearish wave depends on the price stability below 24.20.
The expected trading range for today is between 23.50 support and 24.30 resistance.
The expected trend for today: Bearish
Midday update for Gold 27-10-2021
Gold price tests the key support 1783.00, which represents one of the next trend keys beside 1797.00 resistance, and as we mentioned this morning, the price needs to surpass one of these levels to detect its next destination clearly, which makes us continue with our neutrality until now.
To review the details of the expected targets after the breach, please check our morning report.
The expected trading range for today is between 1770.00 support and 1810.00 resistance.
The expected trend for today: Neutral
Midday update for the GBPUSD 27-10-2021
The GBPUSD pair faces strong negative pressure to break the bullish channel’s support line and reach the most important support at 1.3720, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for the upcoming period, supported by stochastic positivity, which its targets begin by testing 1.3795.
Note that breaking 1.3720 will put the price under additional negative pressure that targets testing 1.3665 areas direct.
The expected trading range for today is between 1.3700 support and 1.3860 resistance.
The expected trend for today: Bullish