The AUDUSD awaits more decline – Analysis - 17-11-2023

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.

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.

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.