Brent oil price begins today’s trading with clear bullish rally after turning back to the bullish channel that appears on the chart, to keep the main bullish trend scenario valid and active for the upcoming period, supported by the EMA50, waiting to visit 77.80 as a next main target.

Note that the continuation of the bullish wave requires holding above 74.70 and 74.05 levels, as breaking them will put the price under negative pressure that its targets begin by testing 72.75 areas.

The expected trading range for today is between 74.00 support and 77.00 resistance.

The expected trend for today: Bullish

Crude oil price managed to breach 71.05 level and close the last four hours’ candlestick above it, which supports the expectations of continuing the main bullish trend, as the price returns to the bullish channel that its next target located at 73.30.

Therefore, we will keep our bullish overview conditioned by the price stability above 70.75.

The expected trading range for today is between 70.00 support and 73.00 resistance.

The expected trend for today: Bullish

Silver price provided additional positive trades yesterday to test the key resistance 22.90, which represents the bearish channel’s resistance, noticing that the EMA50 meets this resistance to add more strength to it, waiting to resume the main bearish wave that its next targets located at 21.65 followed by 20.75.

On the other hand, we should note that breaching 22.90 will stop the suggested negative scenario and lead the price to turn to rise.

The expected trading range for today is between 22.20 support and 23.00 resistance.

The expected trend for today: Bearish

Gold price settled above 1770.00 level after the bullish rally that it witnessed in the previous sessions, to hint the attempt to recover and achieve more gains in the upcoming sessions, but we notice that the price still below the broken neckline of the head and shoulders’ pattern, which might push the price to resume the negative trades again.

Therefore, the contradiction between the technical factors makes us stay aside until we get clearer signal for the next trend, noting that breaching 1780.00 will lead the price to visit 1797.00 direct, while breaking 1770.00 will reactivate the bearish trend scenario that its next main target located at 1735.00.

The expected trading range for today is between 1760.00 support and 1797.00 resistance.

The expected trend for today: Neutral