Crude oil prices declined in a limited corrective move, accompanied by the emergence of negative signals from relative strength indicators, in attempt to calm the previous momentum and rebuild balanced base, this decline comes to recharge the buying powers, paving the way for regaining the bullish track, without changing the main trend.
The price gets strong dynamic support due to its stability above EMA50, reinforcing the stability and dominance of the main bullish trend on short-term basis, especially with its organized moves alongside supportive trend line for this path, keeping the bullish overview valid if the price keeps these technical support levels, while breaking it may signal a deeper shift in the structure of the move.
Silver prices declined in limited corrective move in their last intraday trading, within a natural profit-taking phase after the previous bullish wave, without changing the overall technical outlook, and the price keeps its bullish support that comes from its stability above EMA50, accompanied by the continuation of minor bullish wave on short-term basis, indicating the stability of the bullish scenario valid until now.
This decline comes in the context of an attempt to unwind part of the overbought conditions on relative strength indicators, with the emergence of negative signals from there, to rebalancing momentum before resuming the upward move, so the stability above its dynamic support reinforces the recovery chances and extend the gains in the upcoming period.
Gold price declined during its recent intraday trading in attempt to gather the gains of the previous rise, were it attempts to rebuild bullish momentum that might pave the way for resuming the rise again, this decline comes in organized technical path that represents a natural cooling of momentum following consecutive gains.
At the same time, the price is attempting to offload some clear overbought conditions on relative strength indicators, especially with the emergence of negative signals, but the continuation of the trading above EMA50 provides key dynamic support that reinforces the stability and dominance of minor bullish wave on short-term basis, keeping the bullish scenario unless it loses this key support and confirms breaking technical break to turn the selling pressures strongly.
The (EURUSD) price declined in its last intraday trading, amid the dominance of bearish corrective trend on short-term basis, besides strong negative pressures due to its stability below EMA50, forming active dynamic resistance that prevents near-term recovery attempts, indicating a clear weakness in the buying momentum.
The price is getting ready to test 1.1775 key support, to detect its upcoming track, with the emergence of negative signals from relative strength indicators after reaching sharp overbought levels, therefore, breaking this support might open the way for extending the bearish wave.