Gold rose in its recent intraday trading, attempting to recover part of its previous losses and ease some of the oversold conditions reflected by the relative strength indicators, particularly as positive signals continue to emerge from those indicators, with the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main short-term bearish trend.

The EURUSD pair rose during its latest intraday trading session after the 1.1330 support level held firm for the second consecutive day, providing positive momentum that helped it achieve these gains, supported by positive signals from the relative strength indicators. However, these indicators entered overbought territory relative to the pair’s price movement, signaling a rapid loss of positive momentum. This comes while the main short-term trend remains bearish.

(ETHUSD) declined in its latest intraday trading, with the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on the short-term basis, reducing the chances of full recovery in the near upcoming period, especially after offloading its oversold conditions on the relative strength indicators, after reaching exaggerated overbought levels, in a signal for losing the surrounding positive momentum.

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.