Brent Oil Price Analysis

Expected Scenario

• The Brent oil price rallied strongly, breaching the 90.95$ level and settling above it.
• This action stops the previously suggested negative scenario and resumes the main bullish trend within the bullish channel.

Expected Outcome

The expected outcome is for the bullish trend to continue, targeting 92.30$ followed by 93.45$ levels as next main stations.

Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise.

Expected Trading Range

Between 90.00$ support and 92.80$ resistance.

Crude Oil Price Analysis

Expected Scenario

• The crude oil price bounced upwards strongly, canceling the negative pattern mentioned in previous reports.
• It aims to resume the main bullish trend.

Expected Outcome

The bullish bias is suggested, supported by the EMA50.

Note that breaking 86.05$ may stop the bullish wave and initiate new negative pressure.

Expected Trading Range

Between 85.20$ support and 88.25$ resistance.

Silver Price Analysis

Expected Scenario

• The silver price tested the bullish channel’s support line and maintains stability above it.
• It aims to resume the main bullish trend.

Expected Outcome

Stochastic is attempting to gather positive momentum to support the bullish expectations.

Note that breaking 27.50$ may stop the bullish trend and initiate intraday bearish correction.

Expected Trading Range

Between 27.80$ support and 28.50$ resistance.

Gold Price Analysis

Expected Scenario

• The gold price begins today positively, aiming to resume the main bullish trend.
• To do so, it needs to breach the minor resistance at 2352.50$.

Expected Outcome

Positive signals from technical indicators support the continuation of the suggested bullish wave.

Note that breaking 2326.50$ may put the price under intraday negative pressure.

Expected Trading Range

Between 2335.00$ support and 2370.00$ resistance.