Brent crude price extended its gains in the intraday levels, while buoyed by trading above the 50-candle SMA, amid the dominance of the upward correctional wave, with positive signals from the Stochastic, however we notice it has reached overbought levels compared to the price’s movements. 

US crude oil prices rose in the intraday levels and managed to vent off oversold saturation that was apparent in the Stochastic, until it reached overbought levels compared to the price’s movements, thus sending out negative signals, with the dominance of the main downward trend as the price trades alongside a secondary short-term trend line, while the price is hurt by a recently forming negative Rising Wedge pattern. 

Silver price edged higher in intraday trading while moving within an ascending price channel, as a positive divergence starts forming in the Stochastic after reaching oversold levels compared to the price’s movements, with positive signals streaming out of it, coupled with positive support due to trading above the 50-candle SMA.

Gold price kept rising in the intraday levels and reached our target price yesterday at $3055, while trading within a highly limited ascending price channel, with increasing momentum due to trading above the 50-candle SMA, coupled with positive signals from the Stochastic despite reaching overbought levels.