Brent oil price bounced bearishly yesterday after approaching 53.20 level, which supports the continuation of our bearish overview, which its next main targets located at 49.87 followed by 48.00.

The EMA50 keeps supporting the suggested bearish wave, noting that breaching 53.20 will push the price to test the main bearish channel’s resistance at 56.30 before any new attempt to resume the main bearish trend.

The expected trading range for today is between 50.00 support and 53.20 resistance.

The expected trend for today: Bearish

Crude oil price fluctuates within sideways track recently, falling under the negative pressure formed by the EMA50, to settle below 47.80, which supports the continuation of the main bearish trend scenario, which its next main targets located at 43.50 and 43.00.

Breaking 46.15 will ease the mission of achieving the suggested targets, while breaching 47.80 represents positive factor that will lead the price to achieve more bullish correction on the intraday basis, which targets testing 49.10 and might extend to 50.40 areas before any new attempt to decline.

The expected trading range for today is between 45.50 support and 48.50 resistance.

The expected trend for today: Overall Bearish

Silver price continues to fluctuate around 17.25, and it didn’t show any strong move since yesterday, which keeps the bullish trend scenario valid as it is for the upcoming period, depending on the price stability above 16.96, reminding you that our main targets begin at 17.60 and extend to 18.38 after breaching the previous level.

The expected trading range for today is between 17.00 support and 17.60 resistance.

The expected trend for today: Bullish

Gold price keeps its stability above 1633.60 level, getting continuous positive support by the EMA50, noticing that stochastic gets rid of its negative momentum to reach the oversold areas, which forms positive motive that we are waiting to assist to push the price to resume the main bullish trend, which its next target located at 1689.33.

Therefore, the positive scenario will remain valid and active for the upcoming period, noting that breaking 1633.60 will press on the price to decline towards 1599.10 initially before any new attempt to rise.

The expected trading range for today is between 1630.00 support and 1670.00 resistance.

The expected trend for today: Bullish