Forecast update for Brent -07-08-2026

Bitcoin (BTCUSD) rose in its last intraday trading, attacking the key resistance level at $65,000, supported by the emergence of the positive signals from the relative strength indicators, after forming positive divergence that reinforces this rise, amid the continuation of the positive pressure due to its trading above EMA50, affected by exiting a bearish corrective channel’s range that limited its previous trading on the short-term basis.

Crude oil price declined in the last intraday trading, amid the dominance of the bearish corrective trend on the short-term basis, with its trading alongside supportive trend line for this track, besides 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 action, with the emergence of negative signals from them.

Silver price witnessed strong and consecutive series of gains in its last intraday trading, breaching the key resistance level at $63.20, amid the continuation of the positive support that comes from its trading above EMA50, which reinforces the stability and dominance of the bullish corrective trend on the short-term basis, besides the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels, intensifying the chances of extending these gains in the near upcoming period.