Brent crude oil price advanced in latest intraday trading while trying to pierce the stubborn and pivotal resistance of $73.60, boosted by trading above the 50-candle SMA, amid the dominance of the upward correctional trend in the short term as the price trades alongside the trend line, while the Stochastic reached oversold levels compared to the price’s movements, hinting at positive divergence, which doubles positive momentum for the price.
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Bitcoin price fell in latest intraday levels, hurt by a negative technical pattern that’s forming in the short term, the Rising Wedge pattern, as as the price thus ends the upward correctional wave and resumes the main downward trend once more, with negative signals streaming from the Stochastic after the price vented off oversold saturation that was apparent there despite the total dominance of selling pressures, indicating the strength of this trend.
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Ethereum price inched higher in latest intraday trading while trying to recoup some recent losses, boosted by positive signals emerging from the Stochastic after reaching oversold levels, but with the dominance of the main downward trend, as the price is hurt by exiting an ascending price channel previously in the short term.
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Bitcoin price kept falling in latest intraday trading, hurt by the Rising Wedge pattern which is forming in the short term, with the price now leaning on the support of $83,500, which was the price target of our morning analysis, while the Stochastic reached oversold levels with positive signals emerging from it, which could stymie upcoming losses.
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