Forecast update for Brent crude oil -22-05-2025

The price of (crude oil) continued the decline in its recent intraday trading, breaking the support level at $61.20, affected by exiting a bullish correctional channel’s range on the short-term basis, and there is a continuous positive pressure due to its trading below its EAM50, and the price is attempting to offload some of its clear oversold conditions on the (RSI), noticing the beginning of the positive signals emergence, which might decelerate the price upcoming losses.

The price of (silver) declined in its recent intraday trading, after reaching our previous report near $33.70, to bounce lower attempting to gain positive momentum that might assist it to breach this resistance, and attempts to offload its clear overbought conditions on the (RSI), especially with the emergence of the negative signal from there, amid the domination of the bullish trend on the short-term basis and its trading alongside a bias line.

The price of (Gold) declined in its recent intraday trading, looking for a rising bottom to take it as a base that might assist it to gain the required positive momentum to recover, especially with the emergence of the negative signals on the (RSI), after reaching overbought levels previously, to lean on the psychological support level at $3,300, amid its trading alongside a minor bullish bias on the short-term basis.