Brent oil price shows new negative trades by today’s open to reach the first waited target at 72.06$, and we suggest breaking this level to open the way to achieve additional negative targets that extend to 71.15$ followed by 70.00$.

Therefore, the bearish trend will remain valid and active for the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that failing to break 72.06$ will lead the price to attempt to build bullish wave that targets testing 73.90$ areas mainly.

The expected trading range for today is between 70.60$ support and 73.60$ resistance.

Trend forecast: Bearish

Crude oil price managed to break 68.64$ level and closed the daily candlestick below it, reinforcing the expectations of continuing the domination of the bearish trend in the upcoming sessions, opening the way to achieve negative targets that start at 67.00$ and extend to 65.50$ after breaking the previous level.

The negative pressure formed by the EMA50 supports the expected bearish trend, which will remain valid conditioned by the price stability below 68.64$ and 69.05$ levels.

The expected trading range for today is between 66.60$ support and 69.60$ resistance

Trend forecast: Bearish

Silver price provided temporary negative trades yesterday to test the EMA50, noticing that stochastic overlaps positively now, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which its targets begin at 31.63$ and extend to 32.20$ after breaching the previous level.

Holding above 30.63$ is important to the continuation of the expected rise, as breaking it will put the price under additional negative pressure that targets 29.63$ areas initially.

The expected trading range for today is between 30.80$ support and 31.70$ resistance.

Trend forecast: Bullish

Gold price resumed its negative trading to support the expectations of continuing the domination of the bearish trend on the intraday basis, waiting to test 2600.00$ that represents our first main target, reminding you that breaking this level will extend the bearish wave to reach 2513.15$ areas.

Moving below the EMA50 supports the continuation of the suggested bearish wave, while breaching 2667.00$ will stop the expected decline and lead the price to regain the main bullish trend again.

The expected trading range for today is between 2610.00$ support and 2645.00$ resistance.

Trend forecast: Bearish