Brent oil price returns to rise after testing 73.90$ level in the previous sessions, to approach the key resistance 75.36$, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the expected bearish trend for the upcoming period, and the price needs to break 73.9$ to confirm extending the bearish wave towards 72.06$.

On the other hand, we should note that breaching 75.36$ followed by 75.60$ will stop the bearish trend and lead the price to rise again.

The expected trading range for today is between 73.00$ support and 76.00$ resistance

Trend forecast: Bearish

Crude oil price continues to fluctuate around 70.58$ level, while the negative effect of the double top pattern still active, as we depend on it to continue suggesting the bearish trend for the upcoming period, noting that we are waiting to visit 68.60$ as a next main target.

On the other hand, we should note that breaching 72.15$ will stop the negative scenario and lead the price to attempt to regain the bullish trend again, to head towards testing 73.71$ initially.

The expected trading range for today is between 69.00$ support and 72.00$ resistance

Trend forecast: Bearish

Silver price shows new positive trades by today’s open to start testing 32.00$ barrier, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, waiting to visit 32.50$ as a next main target, noting that breaching it will extend the bullish wave to reach 33.00$.

The EMA50 supports the suggested bullish wave, which will remain valid conditioned by the price stability above 31.00$.

The expected trading range for today is between 31.70$ support and 32.60$ resistance

Trend forecast: Bullish

Gold price confirmed breaching 2685.50$ after ending yesterday above it, and begins today with clear bullish rally to surpass our first positive target mentioned in our last technical update at 2700.00$ and confirm the continuation of the bullish trend domination on the intraday and short-term basis, noting that the next main target reaches 2745.00$.

Therefore, the bullish trend will remain valid and active, noting that breaking 2685.50$ will stop the expected rise and push the price to decline and test the bullish channel’s support line around 2635.00$ before any new attempt to rise.

The expected trading range for today is between 2695.00$ support and 2730.00$ resistance

Trend forecast: Bullish