Crude oil prices rose in their last intraday trading, taking advantage of its leaning on EMA50’s support, which provided solid base that helped it to rebound higher and reduced its previous losses, which reinforced the positive stability of the price on an intraday basis.

This performance comes amid the dominance of the main bullish trend on short-term basis, with the continuation of trading alongside supportive trendline, which indicates the stability of the bullish momentum, accompanied by the positive signals from relative strength indicators after reaching oversold levels, which supports the recovery continuation scenario and attempts to resume the upside track in near-term basis.

Therefore, we expect crude oil to rise in upcoming intraday trading, especially if it settles above $63.50 resistance, to target $66.00 key resistance.

The expected trading range for today is between $62.00 support and $65.00 resistance.

Today’s forecast: Bullish

Silver prices (SILVER) rebounded higher in their recent intraday trading, after breaking our previously suggested target at $73.00 key support, this rebound represents an attempt to recover the last losses and absorb the strength of the dominant selling pressure.

The price is attempting to offload its clear oversold conditions on relative strength indicators, especially with the emergence of positive signals from there, which supports this intraday rebound, however the overall scenario prefers the negativity on a short-term basis, amid the dominance of the main bearish trend and the continuation of the trading below EMA50, which intensifies the negative pressures.

Accordingly, we suggest a decline in sliver’s upcoming intraday trading, especially if it settles below $73.00, to target the next support at $64.00.

The expected trading range is between $64.00 support and $80.00 resistance.

Today’s forecast: bearish

Gold prices rebounded higher in recent intraday trading, holding above $4,800 support, to recover its previous losses and to absorb the dominant selling pressure. This rebound is supported by the relative strength indicators attempting to offload their oversold conditions, with the emergence of positive signals, which helped the price to settle temporarily above this key support.

Despite this intraday improvement, the overall image remains negative on short-term basis, amid the bearish corrective trend dominance, and the continuation of trading below EMA50, which represents a dynamic resistance that limits any potential recovery, and reduces the chances of regaining the upside track.

Therefore, we suggest a decline in gold prices' upcoming intraday trading, when breaking $4,800 support, to target its next support at $4,600. 

The expected trading range is between $4,600 support and $5,000 resistance.

Today’s forecast: Bearish

The (EURUSD) price is experiencing fluctuating trading in its last intraday trading, amid its stability below 1.1800 resistance, indicating the continuation of the selling pressures on the price, this weak performance with the trading below EMA50, which represents a dynamic resistance that limits any strong rebound, accompanied by the dominance of bearish corrective wave on short-term basis.

Accompanied by the emergence of positive signals from the relative strength indicators after reaching oversold levels, in attempt to offload these oversold conditions, which might limit the downside moves and support sideways range trading of limited rebound in near period.

Therefore, we suggest a decline in (EURUSD)price’s upcoming intraday trading, if it settles below 1.1800 resistance to target the next support at 1.1730.

The expected trading range is between 1.1730 support and 1.1850 resistance.

Today's forecast: Bearish