Midday update for Crude oil 29-07-2021
Crude oil price managed to reach our waited target at 73.30 and fluctuates near it, waiting to breach this level to confirm extending the bullish wave on the intraday and short term basis, as our next target reaches 75.00.
The EMA50 continues to support the price from below, to keep our bullish overview conditioned by the price stability above 71.05.
The expected trading range for today is between 71.50 support and 74.00 resistance.
The expected trend for today: Bullish
Midday update for Silver 29-07-2021
Silver price rallies upwards clearly now to approach our waited target at 25.65, and we need to monitor the price behavior when touching the mentioned level, as breaching it will push the price out of the bearish channel that appears on the chart and lead to achieve more gains that reach 26.25 as a next main station.
On the other hand, the consolidating of 25.65 level against the current rise will press on the price to resume the main bearish trend and head to test 24.95 initially.
The expected trading range for today is between 25.00 support and 25.65 resistance.
The expected trend for today: Bullish
Midday update for Gold 29-07-2021
Gold price trades with clear positivity to reach the sideways range’s resistance at 1825.15, which urges caution from the upcoming trading, as breaching this level will put the price out of the sideways range mentioned in our morning report and lead the price to achieve more rise and head towards 1860.00 as a next positive target, while holding against the current bullish rally will press on the price to rebound bearishly and visit the sideways range’s support line at 1797.00 in the upcoming sessions.
The expected trading range for today is between 1795.00 support and 1835.00 resistance.
The expected trend for today: Sideways
Midday update for the GBPUSD 29-07-2021
The GBPUSD pair provides additional positive trades, and the way is open to achieve our waited target at 1.4000, reminding you that surpassing this level will push the price to achieve more gains that reach 1.4240.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.3790 and holding below it.
The expected trading range for today is between 1.3850 support and 1.4020 resistance.
The expected trend for today: Bullish