Midday update for AUDUSD 22-10-2018

Brent oil price shows new test to 80.43 level and keeps its stability below it, to keep the bearish trend scenario valid for today, depending on the price stability within the bearish channel that appears on the chart, supported by the EMA50, noting that our waited targets begin at 78.49 and extend to 76.56 after breaking the previous level.

Crude oil price shows some slight bulilhs bias since morning, while stochastic continues to move near the overbought areas, to keep our bearish overview for today conditioned by the price stability below 70.66, supported by the negative pressure formed by the EMA50, reminding you that we need to break 69.19 level to open the way to head towards 66.85 that represents our next main target.

Silver price did not show any strong move since morning, to continue fluctuating around the EMA50, thus, no change to the bearish trend scenario that depends on the price stability below 14.85, while its next main target located at 13.93.