Forecast update for crude oil -29-07-2026

Silver prices surrendered to the negative pressure during their latest intraday trading, affected by reaching EMA50’s resistance, after its previous attempts to recover some of its previous losses, and it managed to offload its oversold conditions on the relative strength indicators, to reach exaggerated overbought levels compared to the price action, with the emergence of negative overlapping signals from them, affected by breaking a bullish corrective trend line on the short-term basis.

Gold prices declined in their latest intraday trading, affected by the continuation of the negative pressure that comes from its trading below EMA50, which limited the ability of the price to continue the bullish rebound, despite its attempts to get advantage from the relative strength indicators, which began to offload the oversold conditions.

The EURUSD pair declined in its last intraday trading, reaching EMA50’s resistance, putting it under negative pressure amid the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend for this path, besides the emergence of the negative signals from the relative strength indicators, after reaching exaggerated overbought levels compared to the price move, intensifying the negative pressure, indicating more downside moves in the near upcoming period.