The (Brent) price declined in its last intraday trading, affected by breaching minor bearish trend line on the short-term basis, supported by its continuous trading above EMA50, gaining renewed bullish momentum on the near-term basis and intensifies the chances of extending its strong gains that were gained yesterday, on the other hand, we notice the emergence of negative overlapping signals on the relative strength indicators, after reaching overbought levels, the price attempts to offload some of these overbought conditions, and gathering its gains that will help it to gather the required bullish momentum to resume the rise.
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The (silver) price witnessed fluctuated trading in its last intraday trading, amid its attempts to gain bullish momentum that might help it to recover and resume its strong gains again, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trendline, at the same time it takes advantage of the dynamic support that is represented by its trading above EMA50, besides the relative strength indicators reaching sever oversold levels compared to the price movement, which intensifies the chances of regaining the bullish momentum quickly on the near-term basis.
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The (USDCHF) price settled high in its last intraday trading, supported by its continuous trading above EMA50, and under the dominance of bullish correctional wave on the short-term basis and its trading alongside steep trend line, indicating the strength of this track, on the other hand, we notice the emergence of the negative signals on the relative strength indicators, after reaching overbought levels. The price is attempting to offload this overbought condition, which reduced the last gains.
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The (NZDUSD) price rose in its last intraday trading, to recover some of its previous losses, besides its attempts to offload some of the clear oversold conditions on the relative strength indicators, especially with the emergence of positive signals from them that might provide support on a near-term basis.
Despite these attempts, the price is under the dominance of minor bearish wave on the short-term basis, indicating the strength of the negative momentum, besides the continuation of the pressure that comes from its trading below EMA50, reinforcing the chances for extending the negative pressure.
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