Brent Oil Price Analysis

Expected Scenario

• Brent oil price decline stopped at 89.15$ level, as the EMA50 formed good support that forces the price to rebound bullishly now, to hint heading to resume the main bullish wave without the need to visit the bullish channel’s support line as we mentioned this morning.
• We expect to witness more rise in the upcoming sessions, and the targets begin at 92.05$ and extend to 92.75$, noting that breaking 89.90$ will stop the bullish trend and push the price to turn to decline.

Expected Trading Range

Between 89.50$ support and 92.50$ resistance.

Crude Oil Price Analysis

Expected Scenario

• Crude oil price tested the bullish channel’s support line and begins to rebound upwards clearly now, to head towards resuming the bullish trend within this channel, on its way to achieve gains that start by targeting 89.40$ areas.
• RSI shows positive signals that support the expected rise, while the EMA50 keeps carrying the price from below to reinforce the positive overview, reminding you that the continuation of the bullish trend requires holding above 85.30$.

Expected Trading Range

Between 85.00$ support and 88.00$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price rallied upwards strongly this morning to succeed touching our waited target at 28.00$, and we believe that the way is open to achieve additional rises and target 28.75$ levels as a next positive station.
• The bullish trend will remain dominant in the upcoming sessions, supported by the EMA50, taking into consideration that holding above 27.10$ represents key condition to the continuation of the expected rise.

Expected Trading Range

Between 27.50$ support and 28.30$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price provided new positive trades to reach 2355.00$ areas, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis.
• Our next positive station is located at 2364.00$.
• Stochastic current negativity might cause some temporary sideways fluctuation before resuming the suggested bullish wave.
• Breaking 2320.00$ will push the price to turn to decline and test the key support areas that start at 2270.00$ and might extend to 2242.00$ before any new attempt to rise.

Expected Trading Range

Between 2295.00$ support and 2335.00$ resistance.