The (crude oil) price extended its gains in its last intraday trading, taking advantage of the support’s stability at $62.00, besides breaching minor bearish trend line on the short-term basis, providing positive momentum that allows it to recover some of its previous losses.
Despite this rise, the negative pressure remains valid by the trading below EMA50, which limits the recovery expectation on the near-term basis, and the (RSI) reach overbought levels besides the emergence of negative divergence with the negative overlapping signal might indicate a possibility for losing the current momentum and entering new bearish wave.
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The (Gold) settled in its last intraday trading, after breaking a minor bullish trend line on the short-term basis, reinforcing the selling pressures, amid the continuation of its trading below EMA50, that formed a barrier against any recovery attempt in the previous period, confirming the weakness of the dominance positive momentum.
The negative signals keep emerging on the (RSI), despite reaching oversold levels, indicating the continuation of the seller’s dominance on the technical scene, and increasing the possibilities for targeting lower support levels if they fail to bounce soon.
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The (EURUSD) rose in its last trading on its intraday levels, after leaning on the support of EMA50, accompanied by testing a minor bullish channel’s support that moves within its range on the intraday levels, this technical lean indicates the strength of the current support levels, easing the way for more positive trading on the near-term basis.
The (RSI) began showing positive overlapping signs after its decline to oversold levels, amid the clear contradiction with the price move, to indicate forming positive divergence, this technical pattern may provide extra momentum that supports targeting higher resistance levels in its upcoming trading.
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The (BTCUSD) kept declining in its last intraday trading, affected by breaking a minor bullish trend line on the short-term basis, with the emergence of the negative signals on the (RSI), after reaching overbought levels, surpassing the support of its EMA50, intensifying the negative pressure.
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