Crude oil price couldn’t manage to hold for long time below 104.60, to trade with strong positivity and breach this level and settles above it, to head towards achieving new expected gains in the upcoming sessions, targeting 109.15 level as a next main station.

Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, noting that breaking 104.60 will put the price under the negative pressure again.

The expected trading range for today is between 104.00 support and 109.15 resistance.

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The expected trend for today: Bullish

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Indices

	Symbol	Last	Change	Chg.%
	EUR/USD	1.0426	-0.0119	1.1276%
The EURUSD loses momentum – Analysis - 16-05-2022
	GBP/USD	1.2229	-0.0120	0.9753%

	Silver	21.083	-1.041	4.703%

	Oil	109.282	2.125	1.983%
Crude oil price hits the target – Analysis - 16-05-2022
	Brent Oil	109.85	-1.39	1.25%

	Gold	1797.980	-70.880	3.793%
Gold price keeps declining – Analysis - 16-05-2022

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