The price of (silver) continued the decline during its last intraday trading, to break the key support at $47.80, amid the continuation of the negative pressure that comes from its trading below EMA50, reinforcing the stability of the bearish corrective trend on the short-term basis, amid its trading alongside supportive trendline for this track, besides the emergence of the negative signals on the relative strength indicators, despite reaching oversold levels.
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The price of (gold) declined in its last intraday trading, amid the emergence of the relative strength indicators, leaning onto the key support level at $4,050, which was our suggested target in our previous analysis, amid the continuation of the negative pressure that comes from its trading below EMA50, and under bearish corrective wave on a short-term basis.
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The price of (EURUSD) witnessed fluctuated trading on its last intraday levels, amid the continuation of the negative pressure that comes from its trading below EMA50, reinforced by the stability of the main bearish trend on the short-term basis, especially with its trading alongside trendline, besides the emergence of the negative signals on the relative strength indicators, after reaching overbought levels.
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Coffee price formed the inverted head and shoulders pattern in its last trading, and 424.20 level forms the main neckline as appears in the above image, noticing the attempt to surpass the neckline at 437.40 in yesterday trading, to bounce quickly towards 410.00.
The price needs new positive momentum that allows it to settle above extra support towards 393.25, then wait for breaching 424.20 level, to confirm activating the bullish pattern, to target 457.50 and 486.00 level.
The expected trading range for today is between 400.50 and 457.50
Trend forecast: Bullish