Gold price rose during its recent intraday trading, leaning on the dominance of minor bullish wave on short-term basis, with organized trading alongside supportive trend line that indicates the stability of the technical positive structure, reinforcing the trading above EMA50, providing dynamic support that reinforces the chances of keeping the bullish track and extending the gains on near-term basis.
The price gets extra momentum with the beginning of forming positive divergence on relative strength indicators, after reaching exaggerated oversold levels compared to the price move, besides the emergence of positive signals from there, therefore, the continuation of this momentum supports targeting higher resistance levels, while the continuation of this momentum represents a key factor for the continuation of the bullish scenario.
The (EURUSD) price witnessed fluctuating trading with tight sideways range in its last intraday trading, indicating an anticipating phase before breaking the key support at 1.1775, amid the continuation of negative pressures due to its stability below EMA50, keeping the bearish corrective trend dominant on short-term basis and limiting the chances of quick recovery.
Despite this negativity, there are positive signals from relative strength indicators, providing an opportunity to decelerate the decline before detecting the next trend, so breaking 1.1775 level will reinforce the negative scenario and opens the way for more downside moves.
The (BTCUSD) price rose in its last intraday trading, attempting to offload some of its clear oversold levels on the relative strength indicators, especially with the emergence of positive signals from there, amid the dominance of the main bearish trend on short-term basis, with the continuation of the negative pressure due to its trading below EMA50.
The (crude oil) price declined in its last intraday trading, amid its attempts to gain bullish momentum that might help it to recover and rise again, taking advantage of the dynamic support that is represented by its trading above EMA50, reinforcing the stability and dominance of the main bullish trend on short-term basis.