Brent oil price faced strong negative pressure yesterday to reach 80.60$ areas, noticing that the price consolidated above the bullish channel’s support line that appears on the chart and begins to rise clearly by today’s open, to head towards resuming the main bullish trend, on its way to achieve positive targets that start at 82.80$ and extend to 84.00$.

Stochastic provides positive overlapping signal now that motivates the price to provide more expected rise in the upcoming sessions, noting that breaking 81.25$ and holding below it will stop the bullish wave and push the price to start bearish correction on the intraday basis.

The expected trading range for today is between 80.50$ support and 83.50$ resistance.

Trend forecast: Bullish

Read more: Crude oil begins 2025 with a stunning start... These are the reasons behind it

Crude oil price decline stopped at the key support 78.25$, which prevented the price from suffering more losses, to rebound bullishly and keep its stability inside the bullish channel that appears on the chart, which supports the chances of resuming the bullish trend in the upcoming sessions, waiting to visit 80.70$ followed by 83.00$ levels as next main stations.

The EMA50 supports the suggested bullish wave, noting that breaking 78.25$ will stop the bullish trend and push the price to suffer new losses that reach 76.75$.

The expected trading range for today is between 78.25$ support and 81.25$ resistance

Trend forecast: Bullish

Read more: Crude oil begins 2025 with a stunning start... These are the reasons behind it

Silver price confirmed breaching 30.63$ level after closing the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, waiting to visit 31.63$ that represents our next main target.

Stochastic attempts to gather the positive momentum to support the expectations to rise, noting that breaking 30.63$ will put the price under new negative pressure to head towards testing 29.63$ areas before any new attempt to rise.

The expected trading range for today is between 30.50$ support and 31.40$ resistance.

Trend forecast: Bullish

Gold price provided additional positive trades to reach few pips away from our new waited target at 2725.00$, showing sideways fluctuation affected by stochastic negativity, waiting to gather positive momentum that assist to push the price to continue the rise and achieve more gains in the upcoming sessions, noting that the next target reaches the historical high at 2790.00$.

Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 2680.00$ will stop the bullish wave and push the price to start bearish correction on the intraday basis.

The expected trading range for today is between 2700.00$ support and 2740.00$ resistance.

Trend forecast: Bullish