Brent oil price trades with clear positivity now to attack 75.18 level and attempts to confirm breaching it, to hint the attempt to recover and cover some losses that it suffered in the previous sessions, while the technical indicators provide negative signals that might hinder the mission of continuing the rise.
Therefore, the contradiction between the technical factors makes us prefer to stay aside until the price confirms its situation according to the mentioned level and detect the next destination clearly, noting that confirming the beach will push the price to target 77.65 areas mainly, while consolidating below it will press on the price to resume the main bearish wave that its next targets located at 73.35 followed by 72.00.
The expected trading range for today is between 73.70 support and 77.20 resistance.
The expected trend for today: Neutral
Crude oil price shows positive trades to test the key resistance 69.25, which urges caution from the upcoming trading, as breaching this level will lead the price to achieve additional gains and intraday bullish correction that targets testing 71.45 level before any new attempt to decline.
Stochastic loses its positive momentum clearly to show clear overbought signals now, while the EMA50 forms continuous negative pressure against the price.
Therefore, we will continue to suggest the bearish trend for the upcoming period as long as 69.25 level remains intact, reminding you that our next target is located at 65.70.
The expected trading range for today is between 67.00 support and 70.50 resistance.
The expected trend for today: Bearish
Silver price begins today with clear bullish bias to approach our first waited target at 22.13, getting positive signals through stochastic and the EMA50, which reinforces the chances of surpassing this level and rally towards our next target at 23.05.
Therefore, we will continue to suggest the bullish trend for the upcoming period, taking into consideration that breaking 21.40 will stop the expected rise and press on the price to achieve additional bearish correction on the intraday basis.
The expected trading range for today is between 21.50 support and 22.40 resistance.
The expected trend for today: Bullish
Gold price tests 1928.60 level now, and believe that the chances valid to breach this level and open the way to head towards our next target at 1960.00.
The EMA50 continues to support the expected bullish wave, while stochastic prepares to provide positive signals that provide more support to the positive scenario.
Therefore, the bullish trend scenario will remain suggested for the upcoming period, noting that breaking 1907.00 might put the price under negative pressure to head towards testing the key support 1878.80 before turning back to rise again.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish