Brent oil price managed to break the neckline of the head and shoulders’ pattern and close the last four hours’ candlestick below it, to start activating the negative effect of this pattern, waiting to surpass 75.66$ to confirm opening the way to rally towards 74.00$ followed by 72.50$ levels that represent our next main targets.

Therefore, we will continue to suggest the bearish trend for the upcoming period unless the price rallied to breach 77.05$ and hold above it.

The expected trading range for today is between 74.50$ support and 77.50$ resistance.

Trend forecast: Bearish

Crude oil price touched 72.30$ level and attempts to break it, reinforcing the expectations of continuing the bearish trend for the rest of the day, reminding you that our main waited target reaches 70.30$.

The negative pressure formed by the EMA50 supports the suggested negative scenario, taking into consideration that failing to confirm breaking 72.30$ will lead the price to attempt to recover and build bullish wave that targets testing 73.90$ before any new attempt to decline.

The expected trading range for today is between 71.00$ support and 74.00$ resistance

Trend forecast: Bearish

Silver price attempts to breach 31.63$ level, reinforcing the expectations of continuing the bullish trend for the upcoming sessions, waiting to visit 32.05$ followed by 32.86$ levels as next main targets.

The EMA50 supports the suggested bullish wave, which will remain valid conditioned by confirming breaching 31.63$ and building good support base above it.

The expected trading range for today is between 31.20$ support and 32.10$ resistance.

Trend forecast: Bullish

Gold price shows slight bearish bias, noticing that this decline is confined within minor bearish channel that we believe it forms bullish flag pattern, thus, breaching 2821.00$ will provide good positive motive that supports the expectations of continuing the bullish trend in the upcoming period.

Therefore, we will continue to suggest the bullish trend for today unless breaking 2810.00$ and holding below it, reminding you that our next main target is located at 2850.00$.

The expected trading range for today is between 2800.00$ support and 2850.00$ resistance.

Trend forecast: Bullish