Brent oil price managed to break 62.95 and hold with a daily close below it, which supports the continuation of our bearish overview, as it succeeded to touch our first suggested target at 61.50, to notice heading to retest the broken support at 62.95, which keeps its stability below it until now, waiting to rebound bearishly to resume the bearish trend that its next target located at 60.30.

Therefore, the negative scenario will remain dominant in the upcoming sessions unless breaching 62.95 and holding with a daily close above it.

The expected trading range for today is between 61.00 support and 63.60 resistance.

The expected trend for today: Bearish

Crude oil price declined strongly yesterday to approach our first waited negative target at 57.25, showing some bullish bias affected by stochastic positivity, noticing that the EMA50 continues to press negatively on the price, waiting to resume the bearish trend that its targets extend to reach 54.85.

Therefore, we will keep our bearish overview unless the price rallied to breach 59.85 followed by 60.65 levels and holding above them.

The expected trading range for today is between 57.60 support and 60.65 resistance.

The expected trend for today: Bearish

Silver price shows sideways trading, settling around 24.85, fluctuating at the intraday bearish channel’s resistance that appears on the chart, waiting to resume the bearish bias that targets 22.90 as a next main station.

Until now, the bearish trend scenario still valid and active as long as 25.50 level remains intact, as breaching this level will stop the expected correctional decline and lead the price to regain the main bullish trend again.

The expected trading range for today is between 24.20 support and 25.50 resistance.

The expected trend for today: Bearish

Gold price confirmed breaching the bearish channel’s resistance, showing new positive trades by today’s open, which leads the price to achieve more expected gains on the intraday and short term basis, on its way to visit 1765.00 as a next main target.

The EMA50 supports the suggested positive scenario, which will remain valid unless we witnessed clear break and hold below 1709.00.

The expected trading range for today is between 1715.00 support and 1760.00 resistance.

The expected trend for today: Bullish