Forecast update for crude oil -28-10-2026

Silver declined in its recent intraday trading, approaching a potential break below the pivotal support level of $53.40. This comes amid negative signals from the relative strength indicators after reaching deeply overbought levels, intensifying the negative pressure on the price and reinforcing the dominance of the short-term bearish trend. Additional negative pressure stems from trading below EMA50, reducing the chances of a near-term recovery.

Gold edged slightly higher in its recent intraday trading, while remaining under negative pressure from trading below EMA50, which continues to act as dynamic resistance, reinforcing the likelihood that the short-term bearish trend will remain dominant, particularly as negative signals emerge from the relative strength indicators after reaching deeply overbought levels, increasing the likelihood of a near-term price decline.

The EURUSD pair continues to extend its consecutive losses in recent intraday trading, breaking the key support level of 1.1130 and intensifying the negative pressure on the pair. This comes amid the dominance of the short-term bearish trend, with the pair moving alongside a supporting trend line. Additional negative pressure stems from trading below EMA50. However, a positive crossover has begun to emerge on the relative strength indicators, helping the pair maintain some stability against these bearish pressures.