Brent oil price faced strong negative pressure yesterday to touch 90.85 level, noticing that the price consolidates above the main bullish channel’s support line, accompanied by witnessing positive signals through stochastic, waiting to resume the bullish trend and achieve gains that start by visiting 93.50 and extend to 95.50 areas.

On the other hand, we should note that breaking 91.10 will stop the expected rise and press on the price to suffer more losses on the intraday and short term basis.

The expected trading range for today is between 90.40 support and 93.50 resistance.

The expected trend for today: Bullish

Crude oil price’s sharp decline stopped at the main bullish channel’s support line, and the EMA50 meets this support to add more strength to it, while stochastic shows positive signals now.

Therefore, these factors encourage us to suggest the bullish rebound from the current areas to resume the main bullish trend, which its targets begin by testing 94.00 barrier, noting that breaking 89.80 and holding below it will lead the price to achieve more decline and achieve bearish correction for the rise that started from 66.10 areas.

The expected trading range for today is between 89.00 support and 92.00 resistance.

The expected trend for today: Bullish

Silver price traded with strong negativity yesterday to test the key support 23.15, as it kept its stability above it, to start attempts to resume trading inside the bullish channel that appears on the chart, waiting to start new bullish wave that targets visiting 24.20 mainly.

Therefore, we expect to witness positive trades in the upcoming sessions supported by the EMA50 and stochastic, conditioned by the price stability above 23.15.

The expected trading range for today is between 23.00 support and 23.90 resistance.

The expected trend for today: Bullish

Gold price ended yesterday below 1860.00 level, to stop yesterday’s suggested positive scenario, but it faced solid support base at 1845.00 that protects the price from suffering more losses, supported by stochastic positivity, to face contradiction between the technical factors that makes us prefer to stay aside until we get clearer signal for the next trend.

Note that continuing the negative pressure and breaking the mentioned support will push the price to achieve additional decline and test 1825.15 level initially, while breaching the 1860.00 resistance represents the key to resume the bullish trend that targets 1900.00 as a next main station.

The expected trading range for today is between 1835.00 support and 1870.00 resistance.

The expected trend for today: Neutral