Crude oil price forecast update 02-04-2024
Crude Oil Price Forecast
Crude oil price succeeded to achieve our first waited target at 85.00$, and trades with additional positivity to surpass this level and confirm the continuation of the bullish wave on the intraday and short-term basis, on its way to achieve new gains that reach 86.75$.
- Therefore, the bullish trend scenario will remain valid and active for the upcoming period unless breaking 83.56$ and holding with a daily close below it.
The expected trading range for today is between 84.00$ support and 86.50$ resistance
Trend Forecast
Bullish
Silver price forecast update 02-04-2024
Silver Price Forecast
Silver price rallies upwards strongly to succeed achieving our first target at 25.50$, and breaches it to confirm the continuation of the bullish trend domination, opening the way to head towards our net target at 26.07$.
- Stochastic shows positive signals that support the expectations of achieving more gains in the upcoming period, reminding you that the continuation of the bullish wave depends on the price stability above 24.85$.
The expected trading range for today is between 24.85$ support and 25.60$ resistance.
Trend Forecast
Bullish
Gold price forecast update 02-04-2024
Gold Price Forecast
Gold price resumes its positive trading to start the attempts to breach 2260.00$, which supports the continuation of the expected bullish trend for the upcoming period, which its next main target located at 2300.00$.
- The EMA50 keeps supporting the suggested bullish wave, taking into consideration that failing to surpass the current areas will push the price to rebound bearishly and head to test the key support areas 2222.86$ and might extend to 2202.00$ before any new attempt to rise.
The expected trading range for today is between 2235.00$ support and 2270.00$ resistance.
Trend Forecast
Bullish
The GBPUSD forecast update 02-04-2024
GBPUSD Price Forecast
The GBPUSD price shows some bullish bias to test the key resistance 1.2580$, and as we mentioned this morning, the price needs to hold below this level to keep the bearish trend scenario active, affected by the head and shoulders’ pattern that appears on the chart, reminding you that our targets begin at 1.2480$ and extend to 1.2385$.
- On the other hand, we should note that breaching 1.2580$ will stop the expected decline and push the price to build bullish wave on the intraday basis.
The expected trading range for today is between 1.2460$ support and 1.2600$ resistance.
Trend Forecast
Bearish