Gold kept rising during recent intraday trading, benefiting from ongoing positive signals from relative strength indicators, which sustains bullish momentum and push prices higher, despite these indicators reaching heavily overbought territory, reflecting robust demand and buyers’ ability to maintain control of price action.

Gold overcame the negative pressure by EMA50, marking a positive technical development that strengthens the prospects for a continued corrective recovery in the near term. As the technical outlook improves, the likelihood of extending gains and targeting new resistance levels increases if the metal maintains its positive momentum.

The EURUSD pair rose in its recent fluctuated intraday trading, , affected by a positive technical formation that developed earlier in the short term (double bottom pattern) besides an additional support comes from trading above the EMA50, which acts as dynamic support, as well as from the previous breakout of a major downtrend line.

On the other hand, relative strength indicators remain in heavily overbought territory, limiting further gains as the pair may need to ease some of this overbought condition before extending its upward move.

The pair has confirmed its commitment to the bullish scenario, supported by repeated stability above the 200.40 support level, responding to positive signals from the main indicators, stabilizing near 201.70 and achieving part of the previously suggested gains.

We expect testing 202.15 level, which represents an additional barrier against the upward move. A breakout above this level and stability beyond it would open the way toward further targets located at 202.75 and 203.20 respectively.

The expected trading range for today is between 200.75 and 202.15

Trend forecast: Bullish

Natural gas price started forming slow bearish waves, attempting to activate the previously suggested downside scenario as it moves toward $3.070, moving away from the resistance level at $3.350.

Currently, with the main indicators providing negative momentum, increasing the chances of attacking the $2.920 level. A break below this level would open the door toward additional bearish targets, potentially starting at $2.800, and extending to the support near $2.620.

On the other hand, a shift back into an upward trend would require a strong bullish surge, allowing the price to stabilize above $3.520. This would enable it to record further gains, gradually targeting $3.710 and $3.950 respectively.

The expected trading range for today is between $2.920 and $3.180.

Trend forecast: Bearish