Crude oil continued to rise in its last intraday trading, supported by trading above EMA50 after overcoming earlier selling pressure, the short-term corrective bullish wave regained control of price action.

Despite the positive momentum, the relative strength indicators started to show a bearish crossover after reaching heavily overbought levels, signaling that bullish momentum may be fading and limiting the potential for further gains in the near term. Therefore, the bullish outlook remains valid if current support levels hold and buying momentum persists.

Silver declined in its latest intraday trading, leaning on EMA50’s support, while testing the key support level of $60.00, which was our previous expected target, as the price attempts to settle against the selling pressures.

The technical outlook remains bearish, with the continuation of the main short-term bearish trend, and the relative strength indicators started to generate fresh bearish signals after easing its oversold conditions, increasing the likelihood of renewed selling pressure and further losses unless the current support level holds.

Gold deepened its intraday losses, with the continuation of the main short-term bearish trend dominance, as prices move along supportive trendline, and the selling pressure is increasing.

The decline comes as the relative strength indicators resumes generating bearish signals after offloading previous oversold conditions, allowing negative momentum to return. However, gold found support at its EMA50, attempting to build positive momentum that could help it to settle and recover. However, the technical outlook remains cautious unless the price holds above this support.

The EURUSD pair declined in its latest intraday trading, breaking the support of the bullish corrective channel that contained its short-term movement, as a signal for reinforcing the return of selling pressure and resuming the bearish trend.

The decline is accompanied by the decline below EMA50, reinforcing the negative outlook, besides the emergence of negative signals from the relative strength indicators after forming negative divergence, showing a decline in the buying momentum and reducing recovery attempts in the near period, preferring the continuation of the bearish trend and targeting lower support levels.