Brent oil price faced strong negative pressure yesterday affected by the negative Chinese data and the tensions between China and the USA, to break 74.00 level and touc 72.00 direct, to move inside the bearish channel again and hint heading to achieve more decline in the upcoming period.

Therefore, the bearish trend will be expected in the upcoming period unless the price rallied to breach 74.00 level and hold above it again, noting that breaking 72.00 will push the price to head towards 70.00 direct.

Expected trading range for today is between 70.50 support and 74.00 resistance.

Expected trend for today: Bearish

Crude oil price ended yesterday’s trading below the main bullish channel’s support line and below 67.10, to confirm the activation of the bearish trend on the intraday and short term basis, paving the way to achieve negative targets that start at 65.00 and extend to 63.60.

Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 68.06 level and holding above it, noting that moving below the EMA50 supports the expected decline.

To review the reasons of the strong decline that oil price faces, please read this article.

Expected trading range for today is between 65.00 support and 68.40 resistance.

Expected trend for today: Bearish

Silver price fluctuates within sideways track that appears on the chart, and it shows new test to the key resistance 15.50, and as long as the price is below this level, our bearish overview will remain active, supported by stochastic reach to the overbought areas, reminding you that our waited targets begin at 15.10 followed by 14.77 on the near term basis.

Expected trading range for today is between 15.10 support and 15.60 resistance.

Expected trend for today: Bearish

Gold price continues to fluctuate at the EMA50, accompanied by stochastic reach to the overbought areas, to form negative factor that supports the chances of resuming the recently suggested bearish trend, which depends on holding below 1220.00.

Therefore, we will continue to suggest the bearish bias in the upcoming sessions, reminding you that our targets begin at 1204.50 and extend to 1180.55 after breaking the previous level, noting that breaching 1220.00 will push the price to test 1236.20 areas and might extend to 1248.00 before any new attempt to decline.

Expected trading range for today is between 1195.00 support and 1225.00 resistance.

Expected trend for today: Bearish