Midday update for AUDUSD 20-12-2018

Brent oil price resumes its negative trading clearly to press on 55.00 level, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, which gets continuous support by the EMA50, waiting to visit 49.87 level that represents our next main station, reminding you that the continuation of the expected decline conditions holding below 56.90 and the most important below 58.40.

Crude oil price managed to break the bearish flag’s support line and settles below it now, to activate the negative effect of this pattern, which supports the continuation of our bearish overview efficiently for the rest of the day, which its next target located at 45.46, noting that breaking this level is considered as the key to rally towards 40.00$ barrier on the near term basis, while holding below 48.34 represents key condition to achieve the suggested targets.

Silver price trades with clear positivity to start the attempts to breach 14.73 level, which urges caution from the upcoming trading, as confirming breaching this level with a daily close above it will stop the recently suggested negative scenario and lead the price for more bullish correction on the short term basis, targeting visiting 15.22 level mainly.