Brent oil price trades with clear positivity to breach the minor bearish channel’s resistance that appears on the chart, to complete forming bullish flag pattern that supports the chances of continuing the rise in the upcoming sessions to visit 81.90$ initially, making the bullish bias suggested on the intraday basis as long as 80.35$ levels remains intact.

Crude oil price bounced upwards to breach 78.25$ and cancel the negative formation mention today, to head towards building new bullish wave that its targets begin by breaching 78.80$ to open the way to head towards 80.00$ as a next station, noting that the continuation of the bullish trend requires holding above 77.45$.

Gold price rallied upwards strongly to reach the thresholds of the waited target at 2700.00$, and the way seems open to surpass this level and open the way to achieve additional gains that reach 2725.00$, reminding you that the continuation of the bullish trend depends on the price stability above 2673.70$.

Brent oil price attempted to rise but it declines again to keep the correctional bearish scenario active for today, waiting to visit 79.404 as a first station, which breaking it represents the key to extend the bearish wave towards 77.83$ areas.

Therefore, our bearish overview will remain valid and active unless breaching 81.00$ and holding above it.

The expected trading range for today is between 78.40$ support and 81.40$ resistance.

Trend forecast: Bearish