Brent oil price succeeded to achieve our waited target at 84.10$, noticing that the price closed yesterday below it, which supports the expectations of continuing the domination of the correctional bearish trend on the intraday basis, paving the way to visit 82.74$ as a next main target.

The EMA50 forms negative pressure that supports the suggested bearish wave, noting that breaching 84.10$ and holding above it will stop the negative scenario and lead the price to start recovery attempts on the intraday basis.

The expected trading range for today is between 82.20$ support and 85.20$ resistance.

Trend forecast: Bearish

Crude oil price settles around 80.75$ after the clear decline that it witnessed in the previous sessions, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that has negative targets that surpass 80.08$ to reach 78.66$ followed by 77.25$ on the near-term basis.

Therefore, we expect to witness more decline in the upcoming sessions, supported by the negative pressure formed by the EMA50, noting that breaching 81.84$ will stop the current negative pressure and push the price to regain the main bullish track again.

The expected trading range for today is between 79.00$ support and 82.00$ resistance

Trend forecast: Bearish

Silver price breached 31.00$ level clearly and settled above it, reinforcing the expectations of continuing the bullish trend on the intraday and short-term basis, waiting to visit 31.50$ followed by 32.00$ levels that represent our next main targets.

Stochastic negativity might cause some temporary sideways fluctuation, waiting to gather positive momentum that assist to push the price to achieve the suggested targets, noting that breaking 31.00$ followed by 30.50$ levels will stop the positive scenario and put the price under the correctional bearish pressure again.

The expected trading range for today is between 30.90$ support and 31.80$ resistance.

Trend forecast: Bullish

Gold price confirmed breaching 2450.00$ level and succeeded to achieve our new positive target at 2475.00$, and continues to record new historical levels, suggesting visiting 2500.00$ barrier as a next main station.

Therefore, we expect to witness more rise in the upcoming period, supported by the EMA50, it might be preceded by some temporary sideways fluctuation affected by stochastic negativity, noting that breaking 2450.00$ will stop the bullish wave and might force the price to achieve some intraday bearish correction before turning back to rise again.

The expected trading range for today is between 2455.00$ support and 2500.00$ resistance.

Trend forecast: Bullish