Crude oil prices extended their gains during recent intraday trading, reaching our morning target of retesting the key resistance level at $62.85, supported by the emergence of positive signals from the (RSI) indicators.
However, we observe that the RSI has reached extremely overbought levels compared to the price movement, which is a bearish signal indicating a loss of positive momentum surrounding the price, amid the continued downward pressure as the price trades below its EMA50, and under the control of the overall short-term downtrend.
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The price of (Silver) rose in its last intraday trading, preparing to attack the critical resistance at $41.45, supported by the positive signals on the (RSI), after reaching oversold levels, and under the main bullish trend on the short-term basis, and its trading alongside supportive bias line, taking advantage of the dynamic support that is represented by its trading above EMA50, providing renewed momentum on the intraday basis.
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The price of (Gold) extended its gains on its last intraday levels, recovering new historical peak, breaching the main resistance at $3,600, to settle above it to confirm breaching it technically, supported by the dominance of the main bullish trend and its trading alongside supportive bias for this track, besides its success in offloading its clear overbought conditions on the (RSI), opening the way for achieving new gains.
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The price of (EURUSD) rose in its last intraday trading, in attempt to breach the key and stubborn resistance at 1.1730, supported by its trading above EMA50, and under the dominance of minor bullish wave on the short-term basis, and its trading alongside a supportive trend line, besides the (RSI) reach to oversold levels, which represents a sportive signal that intensifies the strength of the bullish momentum in the upcoming period.
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