Crude oil price remains under sharp losses during recent intraday trading, affected by breaking below a short-term bullish channel that had previously controlled trading movements, increasing selling pressure and a shift in momentum in favor of the bearish trend. The EMA50 also continues to apply dynamic negative pressure as the price trades below it, strengthening the chances of further decline in the coming period.
Meanwhile, relative strength indicators continue to send negative signals despite reaching oversold levels, reflecting weak buying momentum and continued seller dominance, with the possibility of limited fluctuations that are unlikely to change the current bearish outlook.
Silver price rose during recent intraday trading, supported by the stability of the $74.00 support level, which helped the price recover part of its previous losses after the latest decline. However, the short-term bearish corrective trend remains dominant, while trading below the EMA50 continues to create negative pressure and limits recovery chances.
At the same time, relative strength indicators reached extremely overbought levels, signaling a possible quick loss of positive momentum and the return of selling pressure.
Gold price continued to rise during recent intraday trading, supported by the stability of the key $4,500 support level, which boosted positive momentum. Additional support came from positive signals by the relative strength indicators after forming a positive divergence.
Despite these gains, negative pressure remains due to trading below the EMA50, reinforcing the short-term bearish trend. Relative strength indicators have also reached extremely overbought levels, signaling a possible weakening in bullish momentum.
The EURUSD pair strengthened its gains during its recent intraday trading, supported by the stability of 1.1590 support, which provided positive momentum that was reinforced by incoming positive signals from the relative strength indicators after reaching heavily oversold levels, attempting to recover part of the previous losses.
This comes amid the dominance of the short-term bearish corrective trend, while negative and dynamic pressure continues due to trading below the EMA50, reducing the chances of a sustainable recovery for the pair in the near term.