Brent crude oil fluctuated in the latest intraday sessions, as the price attempts to stabilize following a strong wave of losses. This stabilization is supported by a relative improvement in momentum indicators, which are beginning to reflect easing selling pressure. In addition, positive signals emerge from the relative strength indicators after they reached deeply oversold levels, indicating the attempts to offload oversold condition and regain some balance.

The overall technical outlook remains bearish. Amid the continuation of the main bearish trend on the short-term basis, besides the stability of the trading below EMA50, which continues its negative pressure.

The price of Bitcoin declined during its recent intraday trading after the relative strength indicators reached extremely overbought levels compared to price action. As a signal to begin forming a negative divergence, which could increase bearish pressure in the near-term period, especially with the continuation of the negative pressure that comes from its trading below EMA50, with the dominance of the main bearish trend on the short-term basis.

Crude Oil settles lower in its last intraday trading, amid the dominance of the main bearish trend on the short-term basis, with its trading alongside steep minor trend line that supports this path, besides the continuation of the negative pressure that comes from its trading below EMA50, on the other hand, we notice the beginning of positive signals emergence from the relative strength indicators, after reaching oversold levels, which helped the price to settle against the negative pressures where it attempts to offload some of the oversold conditions before resuming the decline.

Silver fluctuated in its latest intraday levels, benefiting from the emergence of the positive signals from the relative strength indicators, after reaching oversold level, which didn’t affect the trend, as a clear signals for the continuation of the sellers dominance, especially with the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of full recovery in the near term basis, especially with the dominance of the main bearish trend on the short-term basis.