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Midday update for Crude oil 30-05-2023
Crude oil price is facing strong negative pressure to attack 71.55 level and attempts to confirm breaking it, which hints heading to decline in the upcoming sessions, paving the way to achieve negative targets that reach 68.75.
Therefore, the bearish bias will be expected for the rest of the day, taking into consideration that failing to consolidate below 71.55 will stop the negative scenario and lead the price to recover and visit 73.80 level initially.
The expected trading range for today is between 70.00 support and 73.00 resistance.
The expected trend for today: Bearish for the rest of the day
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Midday update for Silver 30-05-2023
Silver price tested the key support 23.00 but it couldn’t manage to break it, to show positive trades and head towards potential test to the bearish channel’s resistance, and as long as the price is below 23.30, the bearish trend scenario will remain valid for today, supported by the negative pressure formed by the EMA50, reminding you that our next main target reaches 22.25.
MoreMidday update for Gold 30-05-2023
Gold prices declined this morning but it returns to fluctuate near 1945.20 level, waiting to get negative motive that assists to push the price to resume the bearish wave that targets 1913.15 level as a next main station.
MoreMidday update for the GBPUSD 30-05-2023
The GBPUSD pair is testing the key resistance 1.2380, which urges caution from the upcoming trading, as the price needs to hold below this level to keep the bearish trend valid for today, as breaching it will push the price to break 1.2345 to confirm heading towards 1.2240 as a next main target for the suggested bearish wave.
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