Brent oil price traded with strong negativity yesterday to succeed achieving our extended target at 77.44 and settles there, and the negative effect of the double top pattern still active, to support the chances of surpassing the mentioned level to head towards achieving additional negative targets that reach 74.65 as a next main station.

The EMA50 presses negatively on the price to reinforce the expectations of continuing the bearish trend in the upcoming sessions, noting that the consolidation of 77.44 level against the current negative pressure will stop the expected decline and lead the price to build intraday bullish wave that targets visiting 81.00 areas mainly.

The expected trading range for today is between 76.20 support and 79.30 resistance.

The expected trend for today: Bearish

Crude oil price ended yesterday below 73.73, to add more confirmation to the continuation of the bearish trend in the upcoming sessions, organized inside the bearish channel that its next target located at 71.65, noting that breaking this level will put the price under additional negative pressure to target 67.04 areas on the near-term basis.

Therefore, we will continue to suggest the bearish trend on the intraday and short-term basis, noting that breaching 73.73 will stop the current negative pressure and lead the price to start recovery attempts on the intraday basis.

The expected trading range for today is between 71.50 support and 74.50 resistance.

The expected trend for today: Bearish

Silver price breached our waited target at 23.70 clearly and closed the daily candlestick above it, to confirm the continuation of the bullish trend domination on the intraday and short-term basis, and the way is open to move towards our next target that reaches 24.60.

The price might show some temporary sideways fluctuation until gaining positive momentum that assist to rally towards the suggested target, noting that breaking 23.70 will stop the positive scenario and push the price to decline again.

The expected trading range for today is between 23.60 support and 24.30 resistance.

The expected trend for today: Bullish

Gold price confirmed breaching 1975.00 level after closing the daily candlestick above it, to open the way to continue the rise and head to achieve positive targets that start at 2000.00 followed by 2009.30, making the bullish bias suggested for today, supported by the EMA50 that carries the price from below.

Note that the continuation of the bullish wave requires holding above 1975.00 and the most important above 1962.35, as breaking this level represents negative factor that will push the price to return to the correctional bearish track again.

The expected trading range for today is between 1970.00 support and 2005.00 resistance.

The expected trend for today: Bullish