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Crude oil price forecast update 04-06-2024

Economies.com
2024-06-04 10:01AM UTC

Crude oil price keeps declining to succeed achieving our first target at 73.15$ and test 73.00$ per barrel barrier, waiting for more bearish bias to achieve additional negative targets that reach 71.35$.

The EMA50 continues to support the suggested bearish wave, which will remain valid unless breaching 75.25$ and holding above it.

The expected trading range for today is between 72.00$ support and 75.00$ resistance

Trend forecast: Bearish

Silver price forecast update 04-06-2024

Economies.com
2024-06-04 10:01AM UTC

Silver price begins to attack 30.06$ level now, to support the continuation of the bearish trend domination in the upcoming period, as it begins to activate the negative effect of the double top pattern that appears on the chart, paving the way to achieve new targets that start at 29.30$ and extend to 28.55$.

Stochastic negativity supports the expected bearish trend, which will remain valid unless the price rallied to breach 31.00$ and hold above it.

The expected trading range for today is between 30.00$ support and 31.00$ resistance.

Trend forecast: Bearish

Gold price forecast update 04-06-2024

Economies.com
2024-06-04 10:01AM UTC

Gold price shows bearish bias to move below 2340.10$ level, reinforcing the expectations of continuing the bearish trend in the upcoming sessions, waiting to break 2318.50$ level to get negative motive that pushes the price to achieve our correctional targets that start at 2272.06$ and extend to 2217.10$ after breaking the previous level.

Therefore, our bearish overview will remain valid for today unless the price rallied to breach 2360.0$ and hold above it.

The expected trading range for today is between 2320.00$ support and 2360.00$ resistance.
    
Trend forecast: Bearish

Read more: Will Gold price reach 3000$ areas?

The GBPUSD forecast update 04-06-2024

Economies.com
2024-06-04 10:00AM UTC

The GBPUSD price shows some bearish bias to head towards potential test to the key support 1.2700$, affected by the RSI negativity, and as long as the price is above this level, our bullish overview will remain valid for the upcoming period, supported by the EMA50, reminding you that we are waiting to visit 1.2893$ mainly.

The expected trading range for today is between 1.2750$ support and 1.2900$ resistance.

Trend forecast: Bullish

Frequently asked questions

What is the price of Oil today?

The price of Oil is $68.104 (2025-07-09 05:05AM UTC)