Crude oil prices rose in the last trading on intraday levels, attempting to recover some of its losses in the last period, taking advantage of its continuous attempts to offload its clear oversold conditions on relative strength indicators, especially with the emergence of positive overlapping signal, providing temporary support for this intraday rebound.

This rise remains facing clear challenges, affected by breaking minor bullish trend line on short-term basis, with the continuation of negative pressure due to its trading below EMA50, which reduces the chances of the price recovery in the near period. The current rises might fluctuate or decline if the bullish momentum weakens.

Therefore, we expect crude oil to decline in upcoming intraday trading, conditioned by the stability of $60.50 resistance, to target $58.70 support.

The expected trading range for today is between $58.70 support and $60.50 resistance.

Today’s forecast: Bearish

Silver prices are extending their gains in their last intraday trading, reaching $98.00 key resistance, which represents clear target in our previous analysis, recording new all-time highs that indicate the strength of the bullish momentum and dominance of the buyers.

This comes amid the dominance of the main bullish trend on short-term basis, with the trading alongside supportive trend line for this trend, supported by the dynamic support due to its trading above EMA50, besides the emergence of positive signals from the relative strength indicators, reinforcing the chances of resuming the rise with potential natural fluctuations on near-term basis.

Therefore, we suggest a rise in silver prices in their upcoming intraday trading, when breaching $98.00 resistance, targeting its next resistance at $102.00, passing by the psychological resistance at $100.00.

The expected trading range is between $94.00 support and $102.00 resistance.

Today’s forecast: Bullish

Gold surged strongly in its last intraday trading, to breach $4,900 main resistance for the first time ever, which represents an expected target in our previous analysis, confirming the continuation of the bullish momentum and the dominance of the buyers.

This strong performance is supported by the continuation of the dynamic support due to the trading above EMA50, reinforcing the stability and dominance of the main bullish trend on short-term basis, especially with its trading alongside minor supportive bullish trend line for this trend, accompanied by the emergence of positive signals from relative strength indicators, despite reaching overbought levels, which might open the way for limited fluctuation without changing the main bullish trend. 

Therefore, we expect gold to rise in upcoming intraday trading, conditioned by stability above $4,900, to move towards the main resistance at $5,000.

The expected trading range is between $4,850 support and $5,000 resistance.

Today’s forecast: Bullish

The (EURUSD) price declined slightly on the intraday basis, after reaching 1.1755 key resistance, which represents suggested target in our previous analysis, to begin gathering the gains of its last rises, amid its attempts to rearrange its technical structure and gaining new bullish momentum that might help it to breach this resistance.

This performance is accompanied by the continuation of positive support due to its trading above EMA50, besides the dominance of steep minor bullish wave on short-term basis, indicating the strength of the dominant bullish momentum despite this limited decline.

Therefore, we suggest a rise in (EURUSD)price’s upcoming intraday trading, especially when breaching 1.1755 resistance, to target 1.1800 key resistance.

The expected trading range is between 1.1700 support and 1.1800 resistance.

Today's forecast: Bullish