Crude oil price forecast update 23-01-2025 – Economies.com

Crude oil price shows positive trades now, and it might head to test 77.53$ again before turning back to decline.

Until now, we still suggest the continuation of the correctional bearish trend affected by the previously completed head and shoulders’ pattern, reminding you that our targets begin at 75.53$ and extend to 73.90$ after breaking the previous level.

The expected trading range for today is between 74.60$ support and 77.60$ resistance

Trend forecast: Bearish

Silver price forecast update 23-01-2025

Silver price fluctuates with slight negativity to move below 30.63$ level, reinforcing the expectations of continuing the bearish trend on the intraday basis, reminding you that our targets begin at 30.05$ and extend to 29.63$ after breaking the previous level.

The expected trading range for today is between 30.00$ support and 31.00$ resistance.

Trend forecast: Bearish

Gold price forecast update 23-01-2025

Gold price hovers around the bullish channel’s resistance line and still below it, to keep the bearish trend scenario valid and active for today, waiting to head towards 2707.00$ as a next main target.

We remind you that breaking 2744.00$ is required to reinforce the expectations to decline, which will remain valid unless breaching 2755.00$ and holding above it.

The expected trading range for today is between 2730.00$ support and 2765.00$ resistance.

Trend forecast: Bearish

The GBPUSD forecast update 23-01-2025

The GBPUSD price attempts to break 1.2300$ level now, reinforcing the expectations of continuing the bearish trend for today, which its first main target located at 1.2210$.

We remind you that failing to break 1.2300$ will push the price to achieve new gains and visit 1.2440$ on the near-term basis.

The expected trading range for today is between 1.2230$ support and 1.2380$ resistance

Trend forecast: Bearish