Brent Oil Price Analysis

Expected Scenario

• Brent oil price resumes its negative trading to approach 77.18$ level, waiting to break this level to confirm the continuation of the bearish trend domination and open the way to head towards 76.00$ that represents our next target.
• Therefore, the bearish trend will remain valid and active for the upcoming period conditioned by the price stability below 78.05$.

Expected Trading Range

Between 76.00$ support and 79.00$ resistance.

Crude Oil Price Analysis

Expected Scenario

• Crude oil price begins the breaking process to the bearish pennant’s support line, reinforcing the expectations of continuing the bearish trend for the rest of the day.
• This paves the way to head towards 71.35$ that represents our next main target.
• The EMA50 keeps supporting the suggested bearish wave, which will remain valid unless breaching 73.90$ and holding above it.

Expected Trading Range

Between 71.60$ support and 74.60$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price shows some bearish bias to hint heading to resume the expected bearish trend for today.
• Its targets begin by breaking 29.30$ to confirm opening the way to head towards the next correctional station at 28.55$.
• In general, the bearish trend will remain valid and active for the upcoming period unless the price rallied to breach 30.06$ and hold above it.

Expected Trading Range

Between 29.00$ support and 30.10$ resistance.