Brent oil price continued to rise to test 74.00$ level, noticing that the price consolidates below this level after attempting to breach it in the previous sessions, accompanied by witnessing clear negative signals through stochastic, which overlaps negatively now.

Crude oil price tested the key resistance 70.30$ and kept the stability of the daily close below it, as the EMA50 meets this level to add more strength to it, noticing that the RSI loses its positive momentum gradually.

Silver price confirmed breaking 31.63$ after closing the daily candlestick below it, to fall under expected negative pressure in the upcoming sessions, supported by the EMA50 that forms additional negative pressure against the price.

Gold price settles at the waited target at 2868.80$, which represents 23.6% Fibonacci correction level for the rise from 2583.75$ to 2956.90$, and as we mentioned in our last technical update, breaking this level will push the price to achieve more bearish correction on the intraday and short-term basis.