Brent Oil Price Analysis

Expected Scenario

• Brent oil price is facing temporary negative pressure to test the EMA50 that attempts to protect the price from achieving more decline.
• Waiting to resume the positive trades to test 84.77$ mainly, noting that breaching it will push the price towards 85.80$ as a next positive station.
• On the other hand, breaking 83.80$ will stop the expected rise and push the price to target 82.40$ on the near-term basis.

Expected Trading Range

Between 83.00$ support and 86.00$ resistance.

Crude Oil Price Analysis

Expected Scenario

• Crude oil price is testing the key support base at 79.60$, and the EMA50 meets this level to add more strength to it.
• As long as the price is above this level, our bullish overview will remain valid for today.
• Reminding you that our main awaited target is located at 81.50$.

Expected Trading Range

Between 78.90$ support and 81.50$ resistance.

Silver Price Analysis

Expected Scenario

• Silver price shows some bearish bias now, affected by stochastic negativity, and it might achieve a bearish correction and test the 31.00$ barrier before turning back to rise again.
• In general, holding above the mentioned support keeps the main bullish trend scenario active for the upcoming period, which continues to get support from the EMA50.
• Reminding you that our next main target extends to 33.70$.

Expected Trading Range

Between 31.90$ support and 32.80$ resistance.