Brent Oil Price Analysis

Expected Scenario

• Brent oil price trades with clear negativity to press on 90.30$ level and attempts to break it, to hint heading to visit the bullish channel’s support line in the upcoming sessions, motivated by stochastic negativity that appears clearly now.
• Therefore, the bearish bias will be expected on the intraday basis, and the main target is located at 88.25$, taking into consideration that consolidating above 90.30$ will stop the current negative pressure and lead the price to resume the main bullish track again.

Expected Trading Range

Between 89.00$ support and 91.50$ resistance.

Crude Oil Price Analysis

Expected Scenario

• Crude oil price is facing negative pressure to break 86.05$ level and settles below it, to head towards achieving expected decline in the upcoming sessions, targeting testing 84.55$ initially, noting that breaking it will push the price towards 83.45$ as a next negative station.
• Therefore, we expect to witness more decline for the rest of the day unless the price managed to breach 86.05$ and hold above it again.

Expected Trading Range

Between 84.55$ support and 87.00$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price hovers around the bullish channel’s support line again, noticing that stochastic approaches the oversold areas, waiting to motivate the price to resume the expected bullish trend for today, which its main targets located at 28.75$ followed by 29.40$.
• The EMA50 continues to support the suggested rise, which will remain valid unless breaking 27.50$ and holding below it.

Expected Trading Range

Between 27.80$ support and 28.50$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price fluctuates within sideways track and settles around 2340.00$, waiting to activate the positive signals for stochastic to motivate the price to resume the expected bullish trend for today, which targets 2370.00$ followed by 2400.00$ levels mainly.
• Breaching 2352.50$ will reinforce the positive overview, while holding above 2326.50$ represents key condition to achieve the suggested targets.

Expected Trading Range

Between 2335.00$ support and 2370.00$ resistance.