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Crude oil prices await more decline – Analysis - 02-05-2023
Crude oil prices ended yesterday positively, to settle near 76.10 level, noticing that stochastic loses its positive momentum again, while the EMA50 continues to press negatively on the price.
Therefore, these factors encourage us to continue suggesting the bearish trend for the upcoming period, which targets testing 73.85 as a next station, noting that breaching 76.10 will stop the expected decline and lead the price to build bullish wave on the intraday basis.
The expected trading range for today is between 74.00 support and 77.00 resistance.
The expected trend for today: Bearish
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Silver prices attempts positively - Analysis - 02-05-2023
Silver price soared temporarily yesterday, as it attempted to breach 25.50 level, but it bounced bearishly to approach 24.60, which keeps the correctional bearish trend scenario active, waiting to break the last level to confirm opening the way to visit 23.70 as a next station.
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