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Brent oil price forecast update 31-01-2025

Economies.com
2025-01-31 09:18AM UTC

Brent oil price faces negative pressure to attempt to break 77.05$ level, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for the upcoming period, reminding you that the main waited target reaches 78.40$, taking into consideration that confirming breaking 77.05$ will put the price under negative pressure that targets 75.66$ initially.

 

The expected trading range for today is between 76.00$ support and 79.00$ resistance.

 

Trend forecast: Bullish

Crude oil price forecast update 31-01-2025

Economies.com
2025-01-31 09:18AM UTC

Crude oil price shows negative trades to move below 73.90$ level and hint heading to resume the correctional bearish wave, and we prefer to stay aside until the price confirms its situation according to this level, as confirming holding below it will push the price towards 72.30$ as a next correctional target, while consolidating above it will lead the price to achieve positive targets that start at 75.52$.

 

The expected trading range for today is between 72.80$ support and 75.80$ resistance

 

Trend forecast: Neutral

Silver price forecast update 31-01-2025

Economies.com
2025-01-31 09:18AM UTC

Silver price is testing 31.63$ level now, waiting to breach this level to confirm the continuation of the bullish wave that its next target reaches 32.86$.

 

In general, we will continue to suggest the bullish trend for today unless breaking 30.63$ and holding below it.

 

The expected trading range for today is between 31.00$ support and 31.95$ resistance.

 

Trend forecast: Bullish

Gold price forecast update 31-01-2025

Economies.com
2025-01-31 09:18AM UTC

Gold price settles above 2790.00$ level, to keep the bullish trend scenario active for today, reminding you that our next station is located at 2808.20$, which breaching it represents the key to head towards 2850.00$ as a next main target.

 

The EMA50 supports the suggested bullish wave, which will remain valid unless breaking 2790.00$ and holding below it.

 

The expected trading range for today is between 2780.00$ support and 2820.00$ resistance.

 

Trend forecast: Bullish