Brent crude oil continues its downward trend, now trading below its 55-day simple moving average (SMA) at $74.89 per barrel.
A drop below Tuesday’s low of $73.99 could push prices toward the $73.00 mark. Resistance is seen at $75.43, with the bearish trend intact as long as prices remain below the early February high of $77.05.
Silver Rally Stalls After Brief Surge
Spot silver briefly surpassed its mid-December high of $32.33, reaching $32.54 before pulling back. A retreat toward the January 30 high of $31.73 is in sight, with additional support between $31.48 and $31.53. A renewed climb above $32.54 could target the late September–early October 2024 highs between $32.71 and $32.96.
Copper Price Tests Key Resistance
Copper’s strong rally has brought it to the critical $4.4933–$4.4983 resistance zone. A daily close above this range could pave the way for a move toward the early October high of $4.6668 and the September peak of $4.7883. Downside support lies at $4.4698 and $4.4568.
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