Brent Oil Price Analysis

Expected Scenario

• Brent oil price settles within a tight range above 83.00$ barrier, waiting to resume the bullish bias to test 84.77$ that represents the expected target of the bullish wave for today, to continue suggesting the intraday bullish trend, supported by stochastic positivity, reminding you that breaking 82.40$ will push the price to decline again to resume the correctional bearish track that targets 80.08$ areas as the next main station.

Expected Trading Range

Between 82.00$ support and 85.00$ resistance.

Crude Oil Price Analysis

Expected Scenario

• Crude oil price fluctuates within a tight range since morning, settling around 78.50$, and we are still waiting to achieve intraday gains to test 79.60$ before any new attempt to decline.
• On the other hand, we should note that breaking 77.64$ will stop the positive possibility and push the price to resume the main bearish track without the need for the suggested rise, to head towards targeting 75.25$ areas as the next main station.

Expected Trading Range

Between 76.80$ support and 80.00$ resistance

Silver Price Analysis

Expected Scenario

• Silver price continues to rise to achieve our first waited target at 28.90$, and we believe that the way is open to continue the rise and achieve additional gains that reach 29.80$, to continue suggesting the bullish trend on the intraday and short-term basis, noting that the price needs to build support base above 28.70$ to guarantee the continuation of the bullish wave, as breaking this level might push the price to test the most important support at 28.00$ before any new attempt to rise.

Expected Trading Range

Between 28.50$ support and 29.20$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price shows clear positive trades now to approach the key resistance 2380.00$, and as we mentioned this morning, the price needs to breach this level to reinforce the positive overview and open the way to achieve our waited targets that start at 2400.00$ and extend to 2431.44$.
• Therefore, we will continue to suggest the bullish trend for the upcoming period, supported by the EMA50, reminding you that it is important to hold above 2325.90$ to achieve the waited targets.

Expected Trading Range

Between 2340.00$ support and 2380.00$ resistance.