Brent oil price ended yesterday with strong decline after breaking 74.00$ level, to head towards continuing the bearish trend within the bearish channel that appears on the chart, supported by the negative pressure formed by the EMA50.

Crude oil price settles at 69.00$ after the strong decline that it witnessed in the previous sessions, noticing that the price resumes the main bearish track within the bearish channel that appears on the chart, which supports the chances of continuing the decline on the intraday and short term basis and head to achieve more negative targets.

Silver price continued to decline to touch the negative target suggested in our last technical update at 31.63$, and attempted to break it but it trades above it again, to hint the attempt to recover and return to rise again.

Gold price faced additional negative pressures to confirm breaking the bullish channel’s support line, to head towards achieving bearish correction on the intraday basis, targeting testing 2868.80$ as a next negative station, which represents 23.6% Fibonacci correction level for the rise measured from 2583.75$ to 2956.90$.