Crude oil prices declined in their last trading on intraday levels, affected by its previous break to main bullish trend line on short-term basis, in technical signal that turn the selling pressures, and this pressure continues with the stability of the price below EMA50, reinforcing the negativity and limits the chances of near recovery.
These developments coincide with emerging negative signals from relative strength indicators, which supports the likelihoods of the bearish track continuation in the upcoming period.
Silver prices (SILVER) rose on their last trading on the intraday basis, in attempt to recover some of its losses, accompanied by its attempts to offload the clear oversold conditions on relative strength indicators, especially with the emergence of positive signals from there.
Despite this limited improvement the negative pressure remain dominant, due to the continuation of the trading below EMA50, reinforcing the bearish corrective trend on short-term basis, especially with its move alongside supportive minor trend line for this bearish path.
Gold prices witnessed fluctuating trading on its recent intraday levels, accompanied by the emergence of positive overlapping signals from relative strength indicators after reaching sharp oversold levels, in attempt to reduce this pressure and offload the oversold conditions.
Despite these positive signals, the negative pressures remain valid, and the price is affected by breaking minor bullish trend line on short-term basis, besides the continuation of its trading below EMA50, forming dynamic pressure that limits the chances of achieving sustainable recovery in near term.
The (EURUSD) price settles on sudden gains on its last intraday levels, however this rise reaches the resistance of EMA50, accompanied by retesting the previously broken short-term main bullish trend line, which puts the current rise under key technical tests.
The price managed to recover some of its previous losses, and it managed to offload its oversold conditions on relative strength indicators, to enter exaggerated overbought levels compared to the price move, indicating a likelihood of forming negative divergence that might press on the upcoming moves.