ICE Brent crude futures await breakout above $86.15 to continue gains
ICE Brent crude oil futures prices attempted to break above $85.80 and finally closed above it yesterday, which makes the bullish trend valid and active in the upcoming trading sessions, and the price needs to break through $86.15 to strengthen the upward expectations, extending from the first target of $87.05 to $88.50. Therefore, we will continue to suggest a bullish trend, conditional on the price remaining stable above $85.80, while noting that a break below this level will stop the bullish trend and push the price to a new decline in the intraday. Today's trading range is expected to be between the $85.00 support and $87.90 resistance.
Nymex WTI crude oil futures await a rise to previous high of $84.68
Economies.com analysts' latest view today: Nymex WTI crude oil futures prices rebounded again after testing the $81.84 level in the previous trading days, breaking through $82.60, reinforcing the expectation of intraday and short-term continuation of the bullish trend and hitting the next positive point of $84.68. It should be noted that the price has formed a double bottom pattern, which supports the continuation of the expected bullish wave, however, a break below $81.84 will stop the expected rise and put the price under corrective bearish pressure again. Today's resistance is expected to be $84.90.
Spot silver may continue to rise after a correction
Economies.com's analysts' latest view today: Spot silver prices have successfully reached our first target of $31.50, and are affected by the negative signal of the stochastic indicator, showing some bearish tendencies. It may test the key support level of $31.00 while waiting to resume the upward trend, with the next upward target of $32.00. EMA50 continues to provide support for the expected bullish trend, which will remain valid unless the price falls below $31.00, falls below $30.70, and stabilizes below it. Today's trading range is expected to be between the support level of $30.90 and the resistance level of $31.80.
If spot gold stabilizes above $2,400.00, the next target can be seen
Economies.com's analysts' latest view today: Spot gold prices rose sharply yesterday, successfully reaching our first expected target of $2400.00 and breaking through this level, with the daily K-line closing above it, confirming the continued dominance of the bullish trend in the upcoming trading session, paving the way for the all-time high of $2450.00. Therefore, we expect to witness more gains on an intraday and short-term basis, and this expectation is supported by the EMA50. At the same time, it should be noted that if the spot gold price falls below 2400.00, it may put the price under downward pressure during the day and test the 2340.10 support area again before making a new attempt to rise.
ICE raw sugar prices may continue to fall
Economies.com's analysts' latest view today: ICE raw sugar prices fell significantly yesterday, approaching our first target of $19.32. We suggest to continue to maintain the bearish tendency, and the next bearish target is expected to be in the $18.75 area. Therefore, the bearish trend is expected to remain valid and active in the upcoming trading sessions, while noting that a break above $19.82 will stop the current bearish pressure and may cause the price to try to build a new bullish wave on an intraday basis. Today's trading range is expected to be between the support level of $18.90 and the resistance level of $19.75.
Article forwarded from: Jinshi Data