Brent crude oil witnessed fluctuating trading at its last intraday levels, after cautious bullish journey to recover some previous losses, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and strength of the main bearish trend on the short-term basis, with the beginning of forming negative divergence on the relative strength indicators, after reaching exaggerated overbought levels compared to the price move, with the emergence of negative signals from them, reducing the chances of full recovery on the near-term basis.
The price of Bitcoin declined in its recent intraday trading, affected by the stability of the resistance at $63,000 level, with the emergence of the negative signals from the relative strength indicators after offloading its oversold conditions, increasing the negative pressure, which may lead to more intraday losses, to gain bullish momentum that might help it to breach this resistance, amid the dominance of bullish corrective waves on the short-term basis, with the continuation of the dynamic support that is represented by its trading above EMA50, reinforcing the chances of its recovery in the upcoming near period.
Crude Oil declined in the last intraday trading, surrendering to the negative pressures, amid the dominance of the main bearish trend on the short-term basis with the continuation of the negative pressure that comes from its trading below EMA50, noticing the beginning of forming negative divergence on the relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of the negative signals from them, intensifying the negative pressure on the price.
Silver rose slightly in its latest intraday trading, with the emergence of positive overlapping signals from the relative strength indicators, after reaching exaggerated oversold levels compared to the price move, in a strong signals to begin forming positive divergence, that might help it to breach a main bearish trend line on the short-term basis, to get rid of its negative pressure, especially with the continuation of the positive and dynamic pressure that is represented by its trading above EMA50, which provides support base that provides renewed bullish momentum.