The AUDUSD crawls upwards – Analysis - 18-10-2023

Brent oil price rallied upwards strongly after approaching the first waited negative target at 89.20, to breach 90.30 and reach the broken support of the bullish channel, noting that the price begins today with more positivity to attempt to return to this channel, which hints heading to regain the main bullish trend and head to achieve new gains that reach 94.40 followed by 96.05.

Crude oil price bounced upwards strongly after finding solid support formed by the EMA50 against the recent negative trades, to surpass 88.70 level and attempt to return to the main bullish channel again, which leads the price to achieve expected gains in the upcoming sessions, on its way to visit 90.50 followed by 92.00 levels as main positive stations.

Silver price succeeded to achieve our waited target at 23.00, starting today with additional positivity to breach this level and attempt to hold above it, which supports the expectations of continuing the bullish trend and achieve additional gains that reach 23.70.