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Crude oil is under negative pressure -Analysis-07-07-2025

Economies.com
2025-07-07 03:07AM UTC
AI Summary
  • Crude oil is facing negative pressure due to overbought areas on the RSI, leading to potential selling pressure in the near future
  • The decline in crude oil prices is intensifying due to surpassing EMA50, with a bearish correctional trend dominating the short-term basis
  • Strong technical support is needed to stop the current decline, with rebound signals or clear price settlement necessary to reverse the bearish wave.

The (crude oil) declined in its last intraday trading, affected by the negative signs on the (RSI), after reaching overbought areas, which indicates losing the bullish momentum and might put more selling pressure on the price in the near period, this decline caused surpassing EMA50, intensifying the negative pressures and opening the way for more potential declines.

 

This decline came amid the continuation of the bearish correctional trend dominance on the short-term basis, as the markets need strong signs for near technical support to stop this decline, which increases the possibilities for completing the current bearish wave unless rebound signals appear or the price settles clearly.

 

Gold price declines alongside a bearish correctional trend line -Analysis-07-07-2025

Economies.com
2025-07-07 03:06AM UTC

The (Gold) price declined in its last intraday trading, affected by the dominance of the bearish correctional trend on the short-term basis, with the continuation of moving alongside a bias line, which indicates a negative technical behavior currently, accompanied by the emergence of negative signals from the (RSI), which increased the selling pressures on the price.

 

This last decline has surpassed the support of EMA50, which intensified the strength of the decline and supported the negative overview in the upcoming period, with the absence of clear signs for a strong bottom that might support near potential rebounds.

EURUSD witnesses calm trading -Analysis-07-07-2025

Economies.com
2025-07-07 03:06AM UTC

The (EURUSD) declined in its last intraday trading, amid calm trading in tight sideways range trading, after a previous bullish wave that pushed the (RSI)indicators to overbought levels, causing the emergence of bearish signs that might push the price to decline temporarily to offload these conditions.

 

Despite this limited decline, the main bullish trend remains the dominant in the short- term basis trading, supported by its trading above EMA50, besides its move alongside a bullish bias line, we expect that the price may take advantage of this correctional momentum to gain new power that pushes it to resume the rise.

General Update … Due to the U.S. Holiday

Economies.com
2025-07-04 12:16PM UTC

Due to low liquidity in global markets that comes from the Independence Day holiday in the United States, the same technical outlook from the morning analysis remains valid.

Frequently asked questions

What is the price of Oil today?

The price of Oil is $67.786 (2025-07-08 10:55AM UTC)