Brent oil price declined sharply in the previous sessions after consolidating below 75.18 level, to reach the expected extended negative target at 72.00, noticing that the price continues to provide negative trades to hint heading to surpass this level and open the way to achieve more negative targets that reach 70.00.

Therefore, we expect the continuation of the bearish trend domination in the upcoming period, supported by the negative pressure formed by the EMA50, taking into consideration that failing to break 72.00 will stop the bearish wave and lead the price to start recovery attempts and visit 75.45 areas initially.

The expected trading range for today is between 70.50 support and 74.00 resistance.

The expected trend for today: Bearish

Crude oil price continued to decline strongly to reach the recorded low at 65.67, presses negatively on it, which supports the chances of continuing the expected bearish trend on the short term and medium term basis, and we suggest visiting 64.00 level in the upcoming sessions.

The EMA50 forms continuous negative pressure against the price to support the continuation of the expected bearish wave, noting that holding below 67.95 represents the first condition to continue the bearish wave, as breaching it will push the price to achieve intraday gains that target testing 69.25 level again before any new attempt to decline.

The expected trading range for today is between 64.50 support and 68.00 resistance.

The expected trend for today: Bearish

Silver price breached 22.13 level clearly and settled above it, reinforcing the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to head towards our next target that reaches 23.05.

By taking a deeper look at the chart, we find that the price completed forming inverted head and shoulders’ pattern that has positive targets that surpass the mentioned level to reach 24.00 areas.

Therefore, we expect to witness more rise on the intraday and short term basis, supported by the EMA50 that continues to carry the price from below, noting that breaking 22.13 will stop the bullish bias and put the price under intraday negative pressure that its targets begin by testing 21.40.

The expected trading range for today is between 21.90 support and 22.65 resistance.

The expected trend for today: Bullish

Gold price achieved new strong rises to surpass our waited target at 1960.00 and approach the psychological barrier at 2000.00$, which supports the continuation of the bullish trend on the intraday and short term basis, noting that surpassing the mentioned barrier will push the price to head towards 2040.00 areas as a next main station.

The EMA50 provides continuous positive support to the price, while stochastic negativity might cause some temporary bearish bias before resuming the bullish bias.

In general, we suggest the continuation of the overall bullish trend domination, and the price needs to hold above 1960.00 as a first condition to continue the expected rise, as breaking it will press on the price to achieve some intraday bearish correction before turning back to rise again.

The expected trading range for today is between 1960.00 support and 2000.00 resistance.

The expected trend for today: Bullish