Forecast update for Brent -29-07-2026

Crude oil prices rose in their latest intraday trading, taking advantage from the positive signals that come from the relative strength indicators, after reaching oversold levels, to recover a big part of its previous losses, amid the dominance of steep bearish wave on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, representing dynamic resistance that reduces the chances of a full recovery in the near upcoming period.

Silver prices surrendered to the negative pressure during their latest intraday trading, affected by reaching EMA50’s resistance, after its previous attempts to recover some of its previous losses, and it managed to offload its oversold conditions on the relative strength indicators, to reach exaggerated overbought levels compared to the price action, with the emergence of negative overlapping signals from them, affected by breaking a bullish corrective trend line on the short-term basis.

Gold prices declined in their latest intraday trading, affected by the continuation of the negative pressure that comes from its trading below EMA50, which limited the ability of the price to continue the bullish rebound, despite its attempts to get advantage from the relative strength indicators, which began to offload the oversold conditions.