Brent oil price broke 77.05$ level clearly and settled below it, starting today with new bearish bias to support the expectations of continuing the bearish trend in the upcoming sessions, and the way is open to head towards our main waited target at 75.66$, which represents 61.8% Fibonacci correction level for the rise from 71.23$ to 82.82$.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 77.05$ and holding with a daily close above it.

The expected trading range for today is between 74.90$ support and 77.90$ resistance.

Trend forecast: Bearish

Crude oil price managed to break 73.90$ level and close the daily candlestick below it, reinforcing the expectations of continuing the correctional bearish trend in the upcoming sessions, opening the way to head towards 72.30$ that represents our next main target, noting that breaking this level will push the price to suffer additional losses that reach 70.30$ on the near-term basis.

Holding below 73.90$ is important to the continuation of the expected decline, as breaching it will lead the price to achieve intraday gains and head to test 75.53$ areas before any new attempt to decline.

The expected trading range for today is between 71.60$ support and 74.60$ resistance

Trend forecast: Bearish

Silver price traded with clear positivity yesterday to breach 30.63$ and return to the intraday bullish channel that appears on the chart, to head towards achieving expected gains in the upcoming sessions, targeting testing 31.63$ as a next main target.

Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, noting that breaking 30.63$ will stop the bullish wave and push the price to suffer new losses that might reach 29.63$.

The expected trading range for today is between 30.50$ support and 31.40$ resistance.

Trend forecast: Bullish

Gold price tested the bullish channel’s support line again and bounced bullishly from there, as the EMA50 meets this channel’s support line to add more strength to it, noticing that stochastic shows new positive signals now.

Therefore, we believe that the chances valid to rise in the upcoming sessions, reminding you that our main waited target is located at 2790.00$, while breaking 2740.00$ will stop the bullish wave and push the price to start bearish correction that its first main target located at 2708.50$.

The expected trading range for today is between 2745.00$ support and 2780.00$ resistance.

Trend forecast: Bullish