Midday update for Brent oil 25-01-2024

Crude oil price resumes its positive trading clearly now to surpass 76.00 barrier and reinforce the expectations of continuing the bullish trend in the upcoming sessions, and the way is open to achieve our main waited target at 77.86, noting that breaching this level will extend the bullish wave to reach 81.20 on the near-term basis, while the expected rise will remain valid unless breaking 73.73 and holding below it.

Silver price fluctuates within tight range since morning, and stochastic attempts to get rid of its negative momentum, and as long as the price is above 22.65, our bullish overview will remain valid for today, supported by the EMA50, reminding you that our targets begin by breaching 23.00 to rally towards 23.70 as a next positive station.

Gold price didn’t show any strong move since morning, to continue fluctuating around 2016.90, thus, no change to our neutrality, waiting to get clearer signals for the next trend, to continue monitoring the price according to the mentioned level.