The AUDUSD price traded with strong negativity yesterday to surpass 0.6300$ level and succeed achieving our extended target at 0.6210$, noticing that the price leans on the bearish channel’s support line and hint the attempt to start bullish wave on the intraday basis, making the bullish bias suggested in the upcoming sessions, targeting visiting the mentioned channel’s resistance line around 0.6405$.

Therefore, we expect to witness positive trades today, noting that breaking 0.6200$ will stop the suggested bullish wave and lead the price to resume the main bearish track again.

The expected trading range for today is between 0.6190$ support and 0.6290$ resistance

Trend forecast: Bullish

Brent oil price traded with clear negativity yesterday, to move away from 73.90$ and reinforce the expectations of continuing the domination of the bearish trend on the intraday basis, reminding you that our waited target is located at 72.06$.

Moving below the EMA50 supports the suggested negative scenario, and surpassing the mentioned target will lead the price to achieve more decline that its next target reaches 70.85$, while breaching 73.90$ will stop the suggested bearish wave and lead the price to achieve intraday gains that reach 75.36$.

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

Trend forecast: Bearish

Crude oil price bounced downwards clearly after attempting to breach 70.58$ level yesterday, to resume the expected bearish track on the intraday basis, waiting to visit 68.65$ as a next main target.

The price needs to surpass the EMA50 that forms support line now at 69.95$ to ease the mission of achieving the waited target, noting that surpassing 68.65$ will push the price to suffer additional losses that extend to 67.55$, while the bearish trend will remain valid unless the price rallied to breach 70.58$ and hold with a daily close above it.

The expected trading range for today is between 68.30$ support and 71.30$ resistance

Trend forecast: Bearish

Silver price traded with strong negativity yesterday, as it managed to achieve our waited target at 29.63$ and broke it to close the daily candlestick below it, and by taking a deeper look at the chart, we find that the price completed forming head and shoulders’ pattern that we expect to push the price to suffer more losses that start by visiting 28.40$ and extend to the previously recorded low at 26.41$.

Therefore, we suggest the continuation of the bearish bias in the upcoming period, taking into consideration that breaching 29.63$ and holding above it will stop the current negative pressure and lead the price to start recovery attempts that target testing 30.63$ areas initially.

The expected trading range for today is between 28.80$ support and 29.80$ resistance.

Trend forecast: Bearish