Brent crude oil prices surged high in its last intraday trading, retesting the key resistance at $66.75, to hit the resistance of its EMA50, amid the dominance of the main bearish trend and its trading within minor bearish wave’s range, supported by the emerging of the positive signals on the relative strength indicators, reaching exaggerated overbought levels compared by the price movement, to suggest ending the bullish momentum gradually.
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The price of (crude oil) rose in its last intraday trading, after offloading some of its overbought conditions on the relative strength indicators, amid the dominance of strong bullish correction wave on the short-term basis, with the continuation of the positive pressure that comes from its trading above EMA50, reinforcing the price recovery quickly.
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The price of (silver) rose in its last intraday trading, despite the emergence of the negative signals on the relative strength indicators, after reaching overbought levels, indicating the strength of the positive momentum, to settle above the current resistance level at $44.75, to confirm breaching it to open the way for targeting new resistance levels on the near-term basis, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trend line for this track.
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The price of (gold) continues its attempts to gain bullish momentum in its last intraday trading, taking advantage of the dynamic support that is represented by its trading above EMA50, reinforcing the dominance of the main bullish trend on the short-term basis, amid its trading alongside trend line, besides the emergence of the positive signals on the relative strength indicators.
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