Brent oil price surpasses the resistance – Forecast today - 24-04-2024

Economies.com

2024-04-24 03:57AM UTC

Brent Oil Price Analysis

Brent oil price traded with clear positivity yesterday to breach 87.67$ and close the daily candlestick above it, to stop the correctional bearish scenario and head towards building new bullish wave on the intraday and short-term basis, on its way to achieve gains that start at 90.85$.
Therefore, we expect to witness more rise in the upcoming sessions, and breaching 88.45$ will reinforce the positive overview, while breaking 87.67$ will stop the bullish trend and push the price to return to the correctional bearish track again.

The expected trading range for today is between 87.00$ support and 90.00$ resistance.

Trend forecast: Bullish

Economies.com

2024-04-24 03:57AM UTC

Crude oil price managed to touch our waited target at 83.90$ and settles there, as it finds solid resistance there, especially that the EMA50 meets this level to add more strength to it, which might push the price to decline again and achieve more bearish correction.
Now, we prefer to stay aside until the price confirms its situation according to 83.90$ level to detect the next destination clearly, noting that breaching it will push the price to regain the main bullish trend and achieve gains that start at 85.15$ and extend to 87.05$, while consolidating below it will push the price to visit 81.50$ again.

The expected trading range for today is between 82.00$ support and 85.30$ resistance

Trend forecast: Neutral

Economies.com

2024-04-24 03:56AM UTC

Silver price ended yesterday with clear positivity, as it surpassed 26.90$ level and settled above it again, to hint the attempt to stop the bearish correction that dominates the recent trades, but we notice that the technical indicators provide negative signals that might push the price to decline again.
The contradiction between the technical indicators makes us prefer to stay aside until we get clearer signal for the next trend, noting that breaking 26.90$ will push the price to visit the next correctional level at 26.00$, while breaching 28.00$ resistance will stop the bearish wave and lead the price to resume the main bullish trend again, to head towards testing 28.95$ followed by 29.80$ areas mainly.

The expected trading range for today is between 26.85$ support and 27.75$ resistance.

Economies.com

2024-04-24 03:56AM UTC

Gold price ended yesterday below 2325.90$, to keep the correctional bearish trend scenario valid for the upcoming period, waiting to head towards 2260.60$ that represents the next correctional target.
Stochastic provides clear negative signals now that support the chances of resuming the expected decline, besides the negative pressure formed by the EMA50, noting that breaching 2325.90$ followed by 2343.00$ levels will stop the bearish correction and push the price to return to the main bullish track again.

The expected trading range for today is between 2295.00$ support and 2335.00$ resistance.

The price of Brent Oil is $69.67 (2025-08-01 23:54PM UTC)