Midday update for Crude oil 31-03-2023
Crude oil price is attempting to breach 74.50 level now, which supports the continuation of the expected bullish trend scenario for today efficiently, paving the way to head towards our next target at 76.90.
Therefore, the bullish trend will remain valid for the upcoming period, supported by the EMA50 that continues to carry the price from below, noting that failing to confirm the breach will put the price under negative pressure that targets testing 72.50 level before any new positive attempt.
The expected trading range for today is between 73.00 support and 76.00 resistance.
The expected trend for today: Bullish
Midday update for Silver 31-03-2023
Silver prices fluctuate near 24.00 level, waiting for more rise to surpass this level and rally towards our next positive station at 24.50.
Therefore, we will continue to suggest the bullish trend for today, organized inside the bullish channel that appears on the chart, reminding you that the continuation of the bullish wave depends on the price stability above 23.40 and the most important above 23.05.
The expected trading range for today is between 23.50 support and 24.50 resistance.
The expected trend for today: Bullish
Midday update for Gold 31-03-2023
Gold price continues to fluctuate inside the symmetrical triangle’s pattern, waiting to breach 1992.00 to activate the positive effect of this pattern followed by rallying towards our positive targets that start at 2000.00 and extend to 2040.00.
The EMA50 continues to support the suggested bullish wave, waiting to get positive motive that assists to push the price to resume the expected rise, reminding you that it is important to hold above 1962.50 to achieve the waited targets.
The expected trading range for today is between 1965.00 support and 2000.00 resistance.
The expected trend for today: Bullish
Midday update for the GBPUSD 31-03-2023
The GBPUSD pair tested 1.2400 barrier and bounced bearishly to trade at the intraday bullish channel’s support line, and the price needs to consolidate above this support to keep the bullish trend scenario valid for the upcoming period, as the EMA50 meets this support to add more strength to it.
Therefore, we will keep our bullish overview conditioned by the price stability above 1.2325 and 1.2270 levels, noting that our targets begin at 1.2440 and extend to 1.2610 after surpassing the previous level.
The expected trading range for today is between 1.2310 support and 1.2480 resistance.
The expected trend for today: Bullish