The price of (silver) rose on its last intraday levels, supported by the emergence of positive signals from relative strength indicators, despite reaching overbought levels to retest the psychological resistance at$90.00, accompanied by retesting the previously broken main bullish trend on short-term basis, amid the continuation of the negative pressure due to its trading below EMA59, reducing the chances of full recovery on near-term basis.

The price of gold declined in its last intraday trading, because of reaching EMA50’s resistance, after reaching exaggerated overbought levels compared to the price move, which made the price surrender to the negative pressure, amid the dominance of steep bearish corrective wave on short-term basis.

The price of EURUSD declined in its last intraday trading, with the beginning of forming negative divergence on relative strength indicators, after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of negative signals from there, amid the continuation of the negative pressure due to its trading below EMA50, with the dominance of bearish corrective wave on short-term basis.

Coffee price succeeded in activating the previously suggested negative trend by reaching below 334.20 support, forming a strong decline, achieving the initial target by reaching 314.85 level.

Note that stochastic stability within the oversold level will increase the negative pressure in the current period, to form new bearish waves to reach 308.00, to press on 300.50 support to find an exit for resuming the negative trading in the upcoming period. 

The expected trading range for today is between 300.50 and 325.00

Trend forecast: Bearish