Forecast update for Brent crude oil -15-05-2025

The price of (crude oil) declined in its recent intraday trading, to break a bullish correctional bias line on the short-term basis, increasing the negative pressure, especially with the emergence of the negative signals on the (RSI), despite reaching oversold levels, leaning on the support of its EMA50, providing positive momentum that might support temporary bullish rebounds to recover some of its early losses.

The price of (Silver) witnessed mixed trading in its intraday levels, after surpassing the critical support at $31.90, bouncing higher in attempt to offload its exaggerated oversold condition on the (RSI), especially with the beginning of positive overlapping signals emergence, and attempts to recover some of its previous losses, with the continuation of the negative pressure that comes from its trading below EMA50.

The price of (Gold) rose in its recent intraday trading, after surpassing our morning expected target at $3,150 support, bouncing to the upside suddenly, attempting to offload some of its oversold conditions on the (RSI), with the emergence of the positive signals from there, amid the dominance of the bearish correctional trend on the short-term basis and its trading alongside a sharp bearish bias line.