Brent oil price approaches the psychological barrier – Forecast today - 03-04-2024
Brent Oil Analysis
- Brent oil price continues to rise towards the next main target at the psychological barrier of 90.00$ per barrel.
- Expectation of the bullish trend to continue, targeting new positive levels up to 91.00$ upon surpassing the previous level.
- Possible sell-offs and profit taking when testing the psychological barrier.
- Breaking 88.60$ may temporarily halt the bullish wave, pushing the price to test the first key support at 87.40$.
Expected Trading Range for Today
- Between 88.30$ support and 91.20$ resistance.
Trend Forecast: Bullish
Crude oil price needs additional positive momentum – Forecast today - 03-04-2024
Crude Oil Price Forecast - 03-04-2024
Crude Oil Analysis
- Crude oil price settles around 85.50$ level after a recent rise.
- Waiting for positive momentum to assist in resuming the expected bullish trend, with the next target at 86.75$.
- The EMA50 continues to support the suggested bullish wave, protecting trades inside the bullish channel.
- Breaking 83.56$ will halt the expected rise, initiating a bearish correction on the intraday basis.
Expected Trading Range for Today
- Between 84.30$ support and 87.20$ resistance.
Trend Forecast: Bullish
Silver price surpasses the second target - Forecast today - 03-04-2024
Silver price ended yesterday with strong positivity to surpass our second waited target at 26.07$ and settles above it, reinforcing the chances of continuing the bullish trend on the short-term and medium-term basis, noting that our next stations start at 26.60$ and extend to 26.95$.
Therefore, we will continue to suggest the bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that it is important to hold above 25.50$ as a first condition to the continuation of the expected bullish wave.
The expected trading range for today is between 25.90$ support and 26.70$ resistance.
Trend forecast: Bullish
https://www.economies.com/commodities/silver
Silver price ended yesterday with strong positivity to surpass our second waited target at 26.07$ and settles above it, reinforcing the chances of continuing the bullish trend on the short-term and medium-term basis, noting that our next stations start at 26.60$ and extend to 26.95$.
Therefore, we will continue to suggest the bullish trend for the upcoming period, organized inside the bullish channel that appears on the chart, noting that it is important to hold above 25.50$ as a first condition to the continuation of the expected bullish wave.
The expected trading range for today is between 25.90$ support and 26.70$ resistance.
Trend forecast: Bullish
https://www.economies.com/commodities/silver
Gold price resumes the rise – Forecast today - 03-04-2024
Gold Price Forecast - 03-04-2024
Gold Analysis
- Gold price trades with additional positivity, nearing the awaited extended target at 2300.00$.
- Moving inside a bullish channel supports the chances of further gains on the longer-term basis.
- The next positive station is expected to reach 2320.00$.
- The bullish trend scenario remains valid and active, supported by the EMA50.
- Breaking 2260.00$ may halt the bullish rally, testing 2205.70$ areas before any new positive attempt.
Expected Trading Range for Today
- Between 2270.00$ support and 2305.00$ resistance.
Trend Forecast: Bullish