Spot gold price maintains bearish trend
Economies.com's analysts' latest view today: Spot gold prices continue to fluctuate in a range, noting that the stochastic indicator has lost upward momentum again, waiting to resume the expected intraday bearish trend, which depends on the emergence of lower highs on the chart. It is worth noting that the target awaited is at 2636.80, and a break below this level will be key to move towards the next major bearish target of 2604.00. Therefore, we will continue to recommend maintaining the bearish trend in the next stage, while noting that a break above $2673.00 will stop the expected decline and guide the price to resume the main bullish trend. Today's trading range is expected to be between the 2635.00 support level and the 2670.00 resistance level.
Spot silver prices remain on the sidelines
Economies.com analysts' latest view today: Spot silver prices showed strong upward momentum yesterday and tried to break through the 31.70 resistance level, but failed to stabilize above this level, so the price continues to fluctuate between this resistance and the 31.00 support level. We continue to maintain a neutral attitude until the price confirms a breakthrough of either of the above levels. Today's trading range is expected to be between the 31.10 support level and the 32.10 resistance level.
WTI crude oil futures prices maintain bullish bias
Economies.com's analysts' latest view today: WTI crude oil futures prices ended yesterday's trading with a strong downward momentum. The price fell below 71.95 and hit the support level of 70.44, which formed a solid support for the price. Note that the price tried to rebound again, which makes us expect positive trading in the next trading. The price needs to break through 71.95 to open the way to the next major bullish target of 73.48. Therefore, we recommend maintaining a bullish bias today, while noting that a break below 70.44 will stop the bullish trend and push the price back to the bearish track again. Today's trading range is expected to be between the 70.20 support level and the 73.20 resistance level.
Brent crude oil futures fell after hitting the expected target, focusing on the rebound momentum
Economies.com's analyst's latest view today: Brent crude oil futures prices successfully hit our expected target of 76.68 and rebounded strongly from this level to test the support level of 75.24. Note that the price is still above this level at the close of yesterday, maintaining the possibility of continuing the expected intraday bullish trend, and the price is expected to test 76.68 again. Mind you, a break above this level will push the price towards 77.65 and then 78.47 levels as the next major targets. The 50-day exponential moving average (EMA50) continues to provide support for the expected bullish trend, which will remain valid if the price stabilizes above 75.24. The trading range for today is expected to be between the 74.00 support level and the 77.00 resistance level.
The article is forwarded from: Jinshi Data
