Brent oil price traded with clear positivity in the previous sessions to test 110.10 and settles there, noticing that the price attempts to breach this level, while it faces strong negative factors formed by the EMA50 and stochastic.
Threefore, the price is facing contradiction between the technical factors that makes us prefer to stay aside until the price confirms its situation according to 110.10 level, noting that breaching it will lead the price to achieve additional gains that start at 112.20 and extend to 115.10, while consolidating below it will press on the price to rebound bearishly and head towards 105.05 as a next main target.
The expected trading range for today is between 106.50 support and 112.20 resistance.
The expected trend for today: Neutral
Crude oil price breached 104.60 level and the bearish channel’s resistance clearly and settled above them, to stop the recently suggested negative scenario and head to achieve expected gains on the intraday basis, on its way to test 109.15 mainly.
Therefore, we expect to witness more bullish bias in the upcoming sessions, noting that breaking 104.60 will stop the expected rise and press on the price to resume the bearish wave again.
The expected trading range for today is between 104.60 support and 110.00 resistance.
The expected trend for today: Bullish
Silver price approached our main waited target at 20.50 and bounced bullishly from there, to surpass key intraday resistance and hint achieving more expected gains on the intraday basis, targeting testing 21.85 level mainly.
Therefore, the bullish bias will be suggested for today, taking into consideration that breaching the targeted level will extend the bullish wave to reach 22.67 areas, while breaking 21.20 will stop the expected rise and press on the price to decline again.
The expected trading range for today is between 21.10 support and 21.85 resistance.
The expected trend for today: Bullish
Gold price fluctuates around the EMA50 that forms intraday resistance against the price, noticing that stochastic lost its positive momentum to reach the overbought areas, waiting to motivate the price to rebound bearishly and resume the bearish trend, which targets 1810.00 followed by 1780.25 levels as next main stations.
Therefore, our bearish overview will remain valid unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1810.00 support and 1850.00 resistance.
The expected trend for today: Bearish