Oil prices gained ground as they traded above the 50-day SMA, with positive signals from the RSI despite reaching overbought levels, which could hamper gains, with prices now confirming the breach of the descending price channel that limited recent short-term movements, thus attacking the neckline of a positive pattern that's forming currently, the Double Bottom pattern.

 Brent crude is currently attacking the key resistance level at $71.18. A breakthrough of this level represents a new positive impulse for the upcoming price action.

This level forms the neckline of a bullish technical pattern on the short-term chart—the double bottom—supported by its continuous trading above the 50-day simple moving average and positive RSI signals, despite reaching overbought territory.

Bullish Scenario:

Our forecast hinges on breaking the $71.18 resistance. If the price manages to break through, it is expected to continue its ascent toward the next resistance level at $73.90.

The positive scenario remains intact as long as the support at $69.50 holds.

Intraday Movement:

Silver's price declined during intraday trading amid a series of negative RSI signals, following an earlier move into overbought territory. This decline appears aimed at locking in profits from previous highs and attempting to build positive momentum for a recovery and renewed upward move.

Market Context:

This development comes despite the dominance of the primary uptrend and the price trading along a short-term trend line, supported by its continuous trading above the 50-day simple moving average.

Outlook:

We expect the price to recover and resume its ascent. However, a retest of the key support level at $33.00 may occur before the price targets the resistance at $34.00 for a renewed upward attack. This bullish scenario remains robust as long as the support at $32.77 holds; a break below this level would likely shift the trend into a short-term downward correction.

Intraday Movement:

Bitcoin's price has slightly retreated in recent intraday trading, relying on support from its 50-period simple moving average.

This move appears aimed at gaining some positive momentum to sustain the ascending corrective wave dominating its short-term trading, supported by a series of positive RSI signals after previously reaching extreme oversold levels.

Outlook:

We anticipate that Bitcoin's price will resume its upward movement in upcoming sessions, provided that the near support at $81,970.00 holds firm.

With this support intact, our price target extends to $87,000.