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Brent oil price surpasses the target – Analysis - 23-02-2023
Brent oil price declined strongly and succeeded to achieve our waited targe tat 81.30, noticing that the price broke this level and closed the daily candlestick below it, to open the way to continue the decline and achieve additional negative targets that reach 79.55 followed by 78.35.
Therefore, the bearish bias will be suggested for the upcoming period, and breaking 80.40 will ease the mission of achieving the new targets, noting that the EMA50 provides continuous support to the bearish wave.
On the other hand, we should note that breaching 81.30 will stop the current negative pressure and push the price to attempt to cover the losses that it suffered recently.
The expected trading range for today is between 79.55 support and 82.50 resistance.
The expected trend for today: Bearish
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Crude oil price keeps achieving the negative targets – Analysis - 23-02-2023
Crude oil price traded with strong negativity yesterday to succeed achieving our second waited target at 74.35, and we notice that the price surpassed this level to settle below it, reinforcing the expectations of continuing the domination of the bearish trend in the upcoming sessions, waiting to head towards 70.30 as a next main target.
MoreSilver price faces negative pressure - Analysis - 23-02-2023
Silver price bounced bearishly after approaching the waited target at 22.13, to reach the thresholds of the key support 21.40, to stuck within sideways track between these levels, and we suggest witnessing sideways trades between the mentioned levels in the upcoming sessions until the price manages to surpass one of them followed by detecting its next targets clearly.
MoreGold price presses on the support – Analysis - 23-02-2023
Gold price trades negatively to press on the key support 1828.70, and attempts to break, which urges caution from the upcoming trading, as breaking it will press on the price to resume the correctional bearish track and head to visit 1788.20 as a next negative target.
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