Gold keeps moving slightly to the upside in its recent intraday trading, taking advantage of its stability above EMA50, keeping the dominant bullish track on a short-term basis and its trading alongside minor trend line that supports this trend. This stability supports the attempt to extend the positive move, depending on the recent bullish momentum.
On the other hand, the relative strength indicators reached clear overbought levels, exaggeratedly compared to the price move, with the beginning of forming negative overlapping signals that might increase the ability to achieve extra gains on the near term-basis, and increase the likelihoods of facing temporary corrective move unless its manages to reinforce the momentum above its current levels.
The (EURUSD) price settles lower in its last intraday trading, after breaking the support of bullish corrective channel that controlled the last trading of he pair, this break pushed the price to settle in lower zones, to indicate the decline of the bullish momentum and the weakness of the ability to regain its previous bullish track, especially with the stability below EMA50.
This comes with the continuation of the negative signals on the relative strength indicators, reinforcing likelihoods to extend the selling pressure on the intraday basis, increasing the chances of targeting new support levels unless it returns above the broken resistance.
The (BTCUSD) price rose slightly in its last intraday trading, supported by its continuous trading above EMA50, with the emergence of positive signals on the relative strength indicators, after reaching oversold levels, amid the dominance of the bullish corrective trend on the short-term basis with its trading alongside supportive trend line for this trend.
The (crude oil) declined in its last intraday trading, erasing its early gains for today and turning it into losses, affected by the previously mentioned negative technical formation on the short-term basis (the rising wedge pattern), with the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the surrounding negative pressure.