Brent oil price returned to decline clearly after testing the bearish channel’s resistance that appears on the chart, to settle below 62.95 level again, which keeps our bearish overview valid and active for the upcoming period, supported by the negative pressure that the EMA50 continues to provide, waiting to head towards 60.30 that represents our next main target.

On the other hand, we should note that breaching 62.95 followed by 64.00 levels will stop the expected decline and lead the price to turn to rise.

The expected trading range for today is between 61.00 support and 64.00 resistance.

The expected trend for today: Bearish

Crude oil price ended yesterday below 59.85 level after the mixed trades that it witnessed in the previous sessions, to keep the bearish trend dominant on the intraday and short term basis, waiting to resume the negative trades that target 57.25 followed by 54.85 levels as next main stations.

The EMA50 supports the suggested bearish wave, which will remain valid unless the price rallied to breach 59.85 followed by 60.90 levels and hold above them.

The expected trading range for today is between 57.80 support and 60.50 resistance.

The expected trend for today: Bearish

Silver price provided positive trades yesterday to move above 25.50 barrier, noticing that stochastic provides negative signals that we are waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 22.90 level as a next main station.

In general, the bearish trend scenario will remain valid and active on the intraday and short term basis unless breaching 25.50 level and holding above it.

The expected trading range for today is between 24.40 support and 25.50 resistance.

The expected trend for today: Bearish

Gold price shows some slight bearish bias, affected by stochastic negativity that appears clearly on the four hours’ time frame, waiting to gather enough positive momentum to push the price to continue the expected bullish trend for the upcoming period, which targets 1765.00 as a next station.

The EMA50 continues to support the price from below, to keep our bullish overview conditioned by the price stability above 1723.00 and the most important above 1706.00.

The expected trading range for today is between 1720.00 support and 1760.00 resistance.

The expected trend for today: Bullish