Gold prices declined in recent intraday trading, in attempt to reorganize the ranks and gain new momentum that might help it to breach the key psychological resistance at $5,000, leaning on key dynamic support due to its stability above EMA50, keeping the dominance of the minor bullish wave on short-term basis, especially with the continuation of the trading alongside supportive trend line.
On the other hand, the relative strength indicators are approaching sharp overbought levels exaggeratedly compared to the price move, indicating a likelihood of forming negative divergence that might put pressure on the upcoming trading and obstructs completing the recovery.
The (EURUSD) price continues its fluctuating trading in its last intraday trading, attempting to build bullish momentum to ease the way for regaining the upside track, getting significant support by its stability above EMA50, which reinforces the chances of the recovery on near-term basis, especially with the continuation of its trading alongside main bullish trend line that detect the short-term trend lines.
On the other hand, there are negative signals from relative strength indicators, which might limit the price rally and keep the cautiousness valid.
The (BTCUSD) price extended its gains on its last intraday levels, supported by the emergence of positive signals from relative strength indicators, which helped it to breach minor bearish trend line on short-term basis, gaining bullish momentum that led it to surpassing EMA50, to get rid of its negative pressure, reinforcing the chances of extending these gains on intraday basis.
The (crude oil) price settles on a decline in its last intraday trading, affected by breaking main bullish trend line on short-term basis, with the continuation of the negative pressure due to its trading below EMA50, reducing the chances of the price recovery on near-term basis, on the other hand, we notice positive signals from relative strength indicators, after reaching oversold levels, attempting to offload this oversold conditions, which helped it to settle on intraday basis.