Gold rose in its latest intraday trading, following the stability of the key psychological support level at $4,000, providing positive momentum, which intensified by the emergence of the positive signals from the relative strength indicators, reaching exaggerated overbought levels, which didn’t affect the price move as a clear signal for a quick decline, which increases the likelihoods of brining the bearish pressures back into focus on the near term, amid the dominance of the short-term main bearish trend.
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The EURUSD pair declined in its latest intraday trading, leaning at the key support at 1.1190, which prevent its decline in its previous moves, supporting a sideways tight range moves to detect its upcoming trend in the near term, especially with its trading near EMA50, which increases the importance of this area to detect this path, noticing the emergence of negative crossover on the relative strength indicators after offloading its oversold conditions, which increases the negative pressure in the near upcoming period.
MoreDespite recent corrective trading that saw coffee prices decline toward 301.70, this has not affected the main bullish scenario, which remains supported by the additional support level at 295.20 holding firm, alongside continued positive momentum signals.
MoreNatural gas prices touched the target at $2.620 on Friday, retesting the key support level and holding above it. The price has since rebounded upward toward $2.980, reaffirming its commitment to the bullish scenario.
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