Forecast update for Brent -30-10-2026

Crude oil rose in its latest intraday trading, confirming a breakout above the key resistance level of $102.00, increasing the likelihood of extending these gains in the near term, particularly as this performance comes despite the emergence of negative signals from the relative strength indicators after reaching deeply overbought levels. However, these signals have not had a negative impact on price performance, reflecting the strength of the surrounding bullish momentum, amid the dominance of the main short-term bullish trend, with price movements along an ascending trend line that supports this path.

Silver continued its decline in its latest intraday trading, amid the complete dominance of the main short-term bearish trend, with price movements tracking along a descending trend line that supports this bearish path. This is further reinforced by persistent negative dynamic pressure resulting from trading below EMA50. Meanwhile, the relative strength indicators continue to generate negative signals, despite reaching deeply oversold levels.

Gold continues to post consecutive losses in its latest intraday trading, breaking below the key support level of $4,000. This confirms the price’s determination to extend its decline in the near term, particularly amid continued negative pressure from trading below EMA50, which acts as dynamic resistance and reinforces the dominance and stability of the main short-term bearish trend, accompanied by negative signals from the relative strength indicators, despite reaching deeply oversold levels.