Brent oil price shows new negative trades after the temporary rise that it witnessed yesterday, to approach our waited target at 78.39$, which represents 38.2% Fibonacci correction level for the rise from 71.23$ to 82.82$, noting that breaking it will extend the bearish wave to reach 77.05$ direct.

Holding below 80.10$ is important to the continuation of the expected decline, as breaching it represents the key to stop the suggested bearish wave and return to the main bullish track again.

The expected trading range for today is between 77.10$ support and 80.10$ resistance.

Trend forecast: Bearish

Crude oil price bounced downwards clearly after testing the first key resistance at 77.53$ yesterday, to gradually approach our first waited target at 75.53$, reminding you that surpassing this level will push the price to achieve additional bearish correction that its next target reaches 73.90$.

Moving below the EMA50 supports the continuation of the expected bearish wave, which will remain valid unless the price rallied to breach 77.53$ followed by 78.25$ levels and hold above them.

The expected trading range for today is between 74.60$ support and 77.60$ resistance

Trend forecast: Bearish

Silver price shows bearish bias to press on 30.63$ level and attempts to confirm breaking it, to head towards potential visit to the intraday bullish channel’s support line around 30.05$ initially, and it might extend to 29.63$ in case breaking the previous level.

Therefore, we expect to witness negative trades in the upcoming sessions, noting that the consolidation of 30.63$ level will stop the expected decline and lead the price to recover again, to head towards visiting 31.63$ areas mainly.

The expected trading range for today is between 30.00$ support and 31.00$ resistance.

Trend forecast: Bearish

Gold price’s rise stopped near 2765.00$ level, to start bouncing bearishly after losing the positive momentum, as it returns to the bullish channel and trades below its resistance line, to hint starting bearish wave that targets visiting the mentioned channel’s support line, located now at 2707.00$.

Therefore, the bearish trend will be expected for today, and breaking 2744.00$ will ease the mission of achieving the suggested target, while breaching 2755.00$ will stop the suggested bearish wave and lead the price to resume the main bullish trend again.

The expected trading range for today is between 2730.00$ support and 2765.00$ resistance.

Trend forecast: Bearish