Forecast update for Brent crude oil -04-08-2025
AI Summary
- Brent crude oil price continued to decline, breaking the support level of $69.00 and trading below EMA50
- BestTradingSignal.com offers high-accuracy trading signals for US stocks, crypto, forex, and VIP signals for gold, oil, forex, bitcoin, ethereum, and indices
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The price of (Brent) continued its decline in its last trading on the intraday levels, to break the current support level $69.00, increasing the negative pressure especially with the continuation of its trading below EMA50, forming dynamic resistance that prevents the early recovery for today, this last decline came despite the beginning of the positive overlapping signals on the (RSI), after reaching oversold level in attempt to offload this condition, indicating the dominance of the selling powers on the trading.
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Forecast update for crude oil -04-08-2025
The price of (crude oil) continued its decline in its last intraday trading, after reaching the resistance of EMA50 in its early trading, after its attempt to offload some of its clear oversold conditions on the (RSI), which forced it to bounce lower, surrendered to the negative pressure, affected by a negative technical formation on the short-term basis, which is represented by the head and shoulders pattern.
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Forecast update for Silver -04-08-2025
The price of (Silver) settled in its last trading on the intraday levels, retesting the key resistance level at $37.30, supported by the emergence of the positive signals on the (RSI), reaching overbought levels, indicating the positive momentum around it, accompanied by testing a bearish correctional trend line on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, forming a dynamic resistance that prevents the price recovery on the near-term basis.
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Forecast update for Gold -04-08-2025
The price of (Gold) rose on its last intraday trading, supported by its trading above its EMA50, which represents a dynamic support that reinforces the bullish track, amid its affection by its exit from bearish channel’s range that limited its trading on the short-term basis, on the other hand, we notice the emergence of the negative signals on the (RSI), after reaching overbought levels, attempting to offload this overbought might reduce the last gains.
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