Brent oil price breaches the resistance – Forecast today - 04-12-2024
Brent oil price rallied upwards strongly yesterday to breach 73.90$ and close the daily candlestick above it, to head towards achieving more expected rise in the upcoming sessions, paving the way to target 75.36$ areas mainly.
Therefore, the bullish trend will remain suggested for today, taking into consideration that breaking 73.90$ will stop the positive scenario and put the price under the negative pressure again.
The expected trading range for today is between 72.80$ support and 75.80$ resistance.
Trend forecast: Bullish
Crude oil price is recovering – Forecast today - 04-12-2024
Crude oil price settles around 70.00$ level after the rise that it witnessed yesterday, and we suggest the continuation of the bullish bias to test 70.58$ as a next station, reminding you that breaching this level will push the price to continue the rise and achieve additional positive targets that reach 72.15$.
Holding above 69.55$ will keep the positive scenario active, as breaking it will push the price to decline again and head to test 68.64$ initially.
The expected trading range for today is between 68.80$ support and 71.80$ resistance
Trend forecast: Bullish
Silver price confirms the breach - Forecast today - 04-12-2024
Silver price ended yesterday above 30.63$, to confirm the activation of the positive scenario on the intraday basis, targeting 31.63$ areas mainly.
Moving above the EMA50 supports the expected rise, and it might witness some temporary sideways fluctuation affected by stochastic negativity, noting that breaking 30.63$ will stop the suggested bullish wave and push the price to decline again.
The expected trading range for today is between 30.65$ support and 31.50$ resistance.
Trend forecast: Bullish
No news for gold price – Forecast today - 04-12-2024
Gold price keeps fluctuating within tight range, setting around 2645.00$, which keeps the recently suggested negative scenario valid for the upcoming period, which its targets begin by testing 2600.00$, noting that breaching 2665.00$ will stop the suggested bearish wave and push the price to recover and regain the main bullish trend again.
The expected trading range for today is between 2620.00$ support and 2660.00$ resistance.
Trend forecast: Bearish