Midday update for Brent oil 24-01-2024

Crude oil price shows weak trades since morning, thus, no change to the expected bullish trend scenario for today, which depends on the price stability above 73.73 and 73.05 levels, supported by the EMA50 that carries the price from below, noting that we are waiting to visit 77.86 as a next main target.

Silver price rallies upwards to test 22.50 level and head towards activating the positive scenario in the upcoming sessions, targeting testing 23.00 level initially, noting that breaching it will extend the bullish wave to reach 23.70 areas on the near-term basis, while the expected rise will remain valid unless breaking 22.25 and holding below it.

Gold price shows positive trades now to hint heading towards the waited target at 2065.70, to keep the bullish trend valid and active for today, supported by stochastic positivity that appears on the intraday time frames, reminding you that the continuation of the bullish wave depends on the price stability above 2016.90.