Crude oil prices settle near their highest intraday levels, keeping strong gains after its stability at the previously expected target at $65.35 key resistance, the price is attempting to take a breather to gain the required bullish momentum to breach this key resistance and holding above, opening the way for a new bullish wave.

The price is attempting to offload some of the overbought conditions on relative strength indicators, especially with the emergence of negative overlapping signals that might indicate temporary slow momentum, but the continuation of the main bullish trend dominance on short-term basis, besides the dynamic support that is represented by the trading above EMA50 reinforced the chances of resuming the bullish trend and extending its gains.

Silver prices (SILVER) declined in their last intraday trading, after testing minor bearish trend line on short-term basis, accompanied by reaching EMA50’s resistance, forming double technical barrier that turned the selling pressures back, this decline indicates the importance of technical levels, especially with the absence of momentum to breach and hold above it.

The negative overview is reinforced with the emergence of weakness signals from relative strength indicators, after recording negative divergence after reaching exaggerated overbought levels compared to the price, indicating the likelihood of the decline continuation on near-term basis, unless it surpassed these technical resistance levels and confirmed a positive price reversal.

Gold prices declined in their recent trading on the intraday basis, after reaching EMA50’s resistance, to suffer renewed selling pressures that limited the recovery attempts, accompanied by forming negative divergence on relative strength indicators, after reaching severe overbought levels compared to the price move, with the emergence of negative signals from there.

Amid the continuation of the bearish corrective trend dominance on short-term basis, the technical outlook prefers more pressure unless surpassing the EMA50 and holding above it, trading below this key level supports the bearish scenario and keeps the possibilities of targeting lower levels in the upcoming period.

The (EURUSD) price settles near its lowest intraday trading, after a series of consecutive losses that led it to approach the expected target that we mentioned in our previous reports, to begin cautious attempts to offload its oversold conditions on relative strength indicators, especially with the emergence of positive overlapping signals that indicates the likelihoods of limited technical rebound on short-term basis.

Despite these corrective attempts, the price remains under clear negative pressure due to its stability below EMA50, reinforcing the continuation of the dominant bearish corrective trend on short-term basis, especially with its trading alongside supportive trend line for this path.