The price of (Brent) expanded its gains in its last intraday trading, breaching the key resistance level at $66.65, this level represents a neckline of a positive technical formation on the short-term basis, represented by the double bottom pattern, to confirm its momentum to resume the correctional rise on the short-term basis, especially with the continuation of the positive pressure that comes from its trading above EMA50, with the emergence of the positive signals on the (RSI), despite reaching overbought levels.
Therefore, our expectations suggest a rise in (Brent) price in its last trading on the intraday levels, if it settles above $66.65, to target the initial resistance levels at $67.60.
Expected trading range for today: Between the support at $66.35 and resistance at $67.60.
Today’s forecast: Bullish
The price of (crude oil) kept rising in its last intraday trading, taking advantage of the dynamic support that is represented by its trading above EMA50, with the emergence of the positive signals on the (RSI), despite reaching overbought levels, besides its affection by breaching a minor bearish bias line on the intraday levels.
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The price of (Silver) declined in its last intraday trading, amid its trading alongside a minor bearish bias on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which prevented the recovery in the previous period, especially with the beginning of forming negative divergence on the (RSI), after reaching overbought levels, with the emergence of the negative signals from there.
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The price of (Gold) declined in its last intraday trading, suffering with the dynamic resistance that is represented by its trading below EMA5O, amid the dominance of minor bearish wave on the short-term basis and its moves alongside a supportive bias line for the trend, besides the emergence of the negative signals on the (RSI), after reaching overbought levels, forming negative divergence that intensifies the negative pressure.
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