Trending: Oil | Gold | BITCOIN | EUR/USD | GBP/USD

Crude oil price forecast update 17-01-2025

Economies.com
2025-01-17 09:14AM UTC

Crude oil price crawls upwards in attempt to resume the bullish trend within the bullish channel that appears on the chart, to keep the bullish trend scenario valid and active for today, reminding you that our waited targets begin at 80.70$ and extend to 83.00$ after surpassing the previous level, while achieving them requires holding above 78.25$.

 

The expected trading range for today is between 78.25$ support and 81.25$ resistance

 

Trend forecast: Bullish

Silver price forecast update 17-01-2025

Economies.com
2025-01-17 09:14AM UTC

Silver price trades negatively to press on the key support 30.63$, which urges caution from the upcoming trading, as the price needs to hold above this level to keep the positive scenario active for today, which its next target located at 31.63$, reminding you that breaking the mentioned support will push the price to suffer intraday losses and visit 29.63$ mainly.

 

The expected trading range for today is between 30.50$ support and 31.40$ resistance.

 

Trend forecast: Bullish

Gold price forecast update 17-01-2025

Economies.com
2025-01-17 09:14AM UTC

Gold price shows some slight bearish bias to head towards potential test to 2700.00$ barrier, waiting to get positive motive that push the price to resume the main bullish wave, which its targets begin by surpassing 2730.00$ to confirm opening the way to head towards 2790.00$.

 

On the other hand, we should note that breaking 2680.00$ will stop the bullish wave and force the price to turn to decline.

 

The expected trading range for today is between 2700.00$ support and 2740.00$ resistance.

 

Trend forecast: Bullish

The GBPUSD forecast update 17-01-2025

Economies.com
2025-01-17 09:14AM UTC

The GBPUSD price managed to break the bearish flag’s support line and attempts to hold below it, reinforcing the expectations of continuing the bearish trend for the of the day, opening the way to head towards our main waited target at 1.2045$.

 

Therefore, we will continue to suggest the bearish trend for the upcoming sessions unless the price rallied to breach 1.2300$ and hold above it.

 

The expected trading range for today is between 1.2150$ support and 1.2300$ resistance

 

Trend forecast: Bearish