Brent oil price resumes the decline – Analysis - 24-06-2022
Brent oil price bounced downwards strongly after testing 110.10 level yesterday, to keep the bearish trend scenario active on the intraday and short term basis, supported by the negative pressure formed by the EMA50, waiting to break 105.05 to confirm extending the bearish wave towards 101.65 followed by 98.85 levels.
We remind you that the continuation of the bearish wave depends on the price stability below 110.10.
The expected trading range for today is between 103.00 support and 110.00 resistance.
The expected trend for today: Bearish
Crude oil price keeps its negative stability – Analysis - 24-06-2022
Crude oil price consolidates below 104.60 level after the positive attempts that it witnessed yesterday, which keeps our bearish overview valid for the upcoming period, organized inside the bearish channel that appears on the chart, waiting to resume the negative trades to head towards 98.95 as a next main target.
On the other hand, we should note that breaching 104.60 will lead the price to turn to rise and achieve intraday gains that start by testing 107.00 and extend to 109.15 after surpassing the previous level.
The expected trading range for today is between 100.00 support and 106.00 resistance.
The expected trend for today: Bearish
Silver price hits the first target - Analysis - 24-06-2022
Silver price declined strongly yesterday to achieve our first negative target at 20.95, waiting for more decline to visit 20.50 as a next main target.
The EMA50 continues to support the suggested bearish wave, taking into consideration that breaching 21.25 might push the price to recover and achieve intraday gains that reach 21.85 before any new negative attempt.
The expected trading range for today is between 20.50 support and 21.30 resistance.
The expected trend for today: Bearish
Gold price crawls downwards – Analysis - 24-06-2022
Gold price continues to decline calmly, approaching gradually from our first negative target at 1810.00, to keep the bearish trend scenario active, waiting for more decline to visit 1780.25 as a next negative station.
In general, we will continue to suggest the bearish trend – supported by the negative pressure formed by the EMA50 – unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bearish