Brent crude futures continue to fall
Economies.com's analysts' latest view today: Brent crude oil futures broke through 76.95, but we note that it has clearly lost momentum and opened with a bearish bias today, suggesting that the bearish trend may resume and test 76.95 again in the remaining trading sessions. If this level is broken, the price will fall further to 75.30 and then 74.00. Therefore, it is expected to continue to fall in the next trading sessions, while noting that a break above 78.50 will push the price to rise and test the resistance of the bearish channel at 79.85 before attempting a decline. The trading range today is expected to be between 76.00 support and 79.00 resistance.
WTI crude oil futures may test the 72.64 support level again
Economies.com's analysts' latest view today: WTI crude oil futures prices rebounded yesterday and opened with a bearish trend today, suggesting that the main bearish trend may resume. It is expected to test 72.64 again, indicating that it may fall in the next trading session. This expectation is supported by EMA50 (exponential moving average). It should be noted that the continuation of the bearish trend requires the price to remain below 75.48. If this level is broken, it will lead to a recovery and an increase in prices, extending to the 77.24 area. Today's trading range is expected to be between the 72.50 support level and the 75.50 resistance level.
Spot silver may continue to fall
Economies.com analysts' latest view today: Spot silver prices successfully reached our expected bearish target of 27.00, and after rebounding, they were unable to break through the key resistance of 27.62, waiting to resume the bearish trend and move towards the previously recorded low of 26.12. Therefore, we will continue to recommend maintaining the bearish trend in the next stage and point out that a break of 27.62 will stop the bearish scenario and may rise to 28.55. Today's trading range is expected to be between 26.50 support and 27.60 resistance.
Spot gold may rise to 2450.00
Economies.com analysts' latest view today: Spot gold prices rebounded significantly after testing the main bullish trend line shown on the chart. The current stochastic indicator shows a positive signal, which is expected to push prices to further rise in the next trading session, with the target at 2450.00 and then 2483.40. Therefore, it is recommended to maintain a bullish tendency today, while considering that a break below $2386.00 will stop this round of bullishness and push prices to start a new decline, testing 2324.55, before it is possible to try to rise again. Today's trading range is expected to be between the support level of 2390.00 and the resistance level of 2435.00.
Article forwarded from: Jinshi Data