Forecast update for crude oil -28-07-2026

Crude oil prices experience slight gains in their latest intraday trading, attempting to recover some previous losses, attempting to offload some of its clear oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from them, amid the dominance of steep minor bearish wave on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of full recovery in the near upcoming period.

Silver prices settle lower during their latest intraday trading, affected by breaking a bullish corrective trend line on the intraday levels, accompanied by surpassing EMA50’s support, which put it under the negative pressure to decline towards the key support level at $57.00, accompanied by the positive signals that come from the relative strength indicators after reaching oversold levels, which helped it to settle temporarily, attempting to offload some of the oversold levels. 

Gold prices deepened its losses during their latest intraday trading, breaking a bullish corrective trend line on the short-term basis, accompanied by surpassing EMA50’s support, intensifying the negative pressures and suggesting more losses in the near upcoming period, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels.

The EURUSD pair kept declining in its last intraday trading, amid the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line for this path, besides the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of a full recovery on the near-term basis, especially with the emergence of the negative signals from the relative strength indicators, despite reaching oversold levels.