Crude oil price rose during its latest intraday trading, supported by the emergence of positive signals from the relative strength indicators, to breach $94.70 resistance, indicating a clear improvement in the buying momentum, and the price continued its rise to hit EMA50’s resistance, in a serious attempt to get rid of the recent negative pressures.

This positive movement comes amid the dominance of the main bullish trend on the short-term basis, with trading alongside supportive trend line for this track, reinforcing the chances of resuming the recovery in the upcoming period, especially if it manages to settle above the current levels and confirm breaching the technical resistance levels.

Silver price slipped lower during its recent intraday trading, affected by the stability of the key resistance at $75.85, pushing the price to decline and break bearish technical formation on a short-term basis that is represented by the rising wedge pattern, as a signal that indicates increasing the selling pressures on its current movements.

This decline accompanied by the negative signals emergence from the relative strength indicators after reaching overbought levels, which reinforces the likelihoods of continuing the bearish pressure in the upcoming period, especially when surpassing EMA50’s support, which supports limiting the losses until now.

Gold managed to reduce its losses that occurred at the beginning of the week, benefiting from its stability on EMA50’s support, which provided dynamic support that helped it recover some positive momentum and pushed it to rebound quickly.

There is negative pressure after exiting bearish corrective channel’s range that was organizing its moves on the short-term basis, besides the negative signal’s emergence from the relative strength indicators, which might limit the recovery chances and keep the likelihoods of moving lower in the near upcoming trading.

The (EURUSD) slipped lower at the beginning of this week’s trading, recording bearish price gap that led to breaking technical formation on an intraday basis, represented by a rising wedge pattern, indicating the selling pressures. This movement was accompanied by negative divergence emergence on the relative strength indicators, which confirmed by the negative signals’ appearance, reinforcing the likelihoods of continuing the bearish pressure in the near period.

Despite this negativity, there are some supportive factors that remain valid, where the price continues its trading above EMA50, which represents key dynamic support, besides the continuation of the bullish corrective trend and the trading alongside supportive trend line.