Crude Oil Price Analysis

Expected Scenario

• Crude oil price begins the breaking process to the bearish pennant’s support line, reinforcing the expectations of continuing the bearish trend for the rest of the day.
• This paves the way to head towards 71.35$ that represents our next main target.
• The EMA50 keeps supporting the suggested bearish wave, which will remain valid unless breaching 73.90$ and holding above it.

Expected Trading Range

Between 71.60$ support and 74.60$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price shows some bearish bias to hint heading to resume the expected bearish trend for today.
• Its targets begin by breaking 29.30$ to confirm opening the way to head towards the next correctional station at 28.55$.
• In general, the bearish trend will remain valid and active for the upcoming period unless the price rallied to breach 30.06$ and hold above it.

Expected Trading Range

Between 29.00$ support and 30.10$ resistance.

Gold Price Analysis

Expected Scenario

• Gold price consolidates below the 2340.10$ level, waiting to resume the negative trades and break 2318.00$ to get negative motive that push the price to resume the expected correctional bearish trend for today.
• This depends on the formation of the head and shoulders’ pattern that appears on the chart, reminding you that our main waited targets begin at 2272.06$ and extend to 2217.10$.

Stochastic Indicator

Stochastic begins to lose the positive momentum to support the expectations to decline, which will remain valid conditioned by the price stability below 2340.10$ and 2360.00$ levels.

Expected Trading Range

Between 2315.00$ support and 2350.00$ resistance.

GBPUSD Price Analysis

Expected Scenario

• The GBPUSD price didn’t show any strong move since morning, continuing to fluctuate around 1.2775$.
• Thus, there is no change to the expected bullish trend scenario for today, which gets continuous support by the EMA50.
• This depends on the price stability above 1.2700$, reminding you that our main waited target reaches 1.2893$.

Expected Trading Range

Between 1.2720$ support and 1.2860$ resistance.