Brent oil price bounced bearishly after the rise that it witnessed on yesterday’s evening, to reach 92.74 level now, and we suggest surpassing this level to extend the correctional bearish wave towards 90.70 areas on the near-term basis.

Therefore, the bearish trend scenario will remain valid and active for the upcoming period, and the price needs to hold below 93.85 to guarantee the continuation of the expected decline, as breaching it represents positive factor that will push the price to attempt to regain the main bullish trend again.

The expected trading range for today is between 91.00 support and 94.00 resistance.

The expected trend for today: Bearish

Crude oil price achieved clear gains yesterday and attempted to breach 90.95 level, but it bounced downwards strongly to settle at 89.36 level again, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that its signs appear on the image, which means that breaking 89.36 will motivate the price to rally towards the next correctional target at 87.16 direct.

Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 90.15 will stop the current negative pressure and lead the price to start new recovery attempts.

The expected trading range for today is between 87.50 support and 90.50 resistance.

The expected trend for today: Bearish

Silver price provided good positive trades yesterday to approach our waited target at 23.70, but it bounced bearishly to test the key support 23.00, and we need to monitor the price at this level, as holding above it represents the key to return to rise on the intraday basis, while breaking it will push the price to turn to decline and achieve negative targets that start at 22.25.

Therefore, we prefer to stay aside until the price confirms its situation according to 23.00 level followed by detecting its next destination clearly.

The expected trading range for today is between 22.70 support and 23.50 resistance.

The expected trend for today: Neutral

Gold price couldn’t manage to surpass 1945.20 level, to rebound downwards strongly and break 1929.00 and settles below it, which stops the positive effect of the inverted head and shoulders’ pattern and put the price under the negative pressure in the upcoming sessions, on its way to visit 1913.15 areas initially.

Stochastic provides negative signals that support the continuation of the expected decline for today, to keep the bearish bias dominant unless breaching 1929.00 and holding above it again.

The expected trading range for today is between 1910.00 support and 1940.00 resistance.

The expected trend for today: Bearish