Brent continued its upward movement during recent intraday trading, with the latest rise reaching the $105.00 resistance level, a level that had been one of our previous price targets. This move is driven by the dominance of a strong short-term bullish sub-trend, along with continued trading above EMA50, which provides dynamic support and enhances the stability of this bullish trend. At the same time, positive signals continue to emerge from the relative strength indicators, despite reaching heavily overbought levels, which may slow the pace of further gains in the very short term.

Bitcoin (BTCUSD) declined during its recent intraday trading after facing EMA50’s resistance. This forced the price to pull back after achieving limited early-session gains, in what appeared to be a failed attempt to recover part of its previous losses and relieve some of the oversold conditions on the relative strength indicators. The price also remains affected by breaking a major short-term ascending trendline, which increases the likelihood of further losses in the near term.

Crude oil extended its gains during recent intraday trading, successfully breaking above the key resistance level of $98.00, which was one of our previous price targets, as an important step toward confirming a sustained breakout in the near term, supported by continued dynamic strength, as prices trade above EMA50, reinforcing the dominance of a short-term bullish sub-trend. In addition, positive signals continue to emerge from the relative strength indicators.

Silver continued its decline during recent intraday trading, breaking below the $73.60 support level, which was a previous price target, amid ongoing negative and dynamic pressure, as the price trades below EMA50, while moving along a short-term bearish trendline. Additionally, we observe continued negative signals from the relative strength indicators, despite reaching heavily oversold levels.