Silver price settles on strong gains in its recent intraday trading, getting rid of the negative pressure of EMA50, reinforcing the chances of extending these gains in the upcoming near period, especially with breaching its current resistance, with the emergence of the positive signals from the relative strength indicators, after reaching exaggerated oversold levels compared to the price move, besides the dominance of minor bullish wave on the short-term basis.

Gold price extended its gains in its recent intraday trading, supported by the emergence of the positive signals from the relative strength indicators, to breach the resistance level at $4,500, accompanied by surpassing EMA50’s resistance, getting rid of its negative pressure as a clear signal for the strength of the bullish momentum, despite the dominance of the main bearish trend and the continuation of its trading alongside supportive trend line for this path.

The EURUSD pair keeps its previous gains, taking advantage of the dynamic support that is represented by its trading above EMA50, which provides support base that might help it to extend these gains, especially with its trading within minor bullish channel’s range that limits its pervious trading on the short-term basis, with the emergence of the positive signals from the relative strength indicators, after reaching oversold levels.

Coffee price activated the previously suggested bearish trend by providing new negative closes below the broken support at 276.00, to form a strong barrier and form some bearish waves, approaching the initial target at 259.60.

Note that stochastic stability within the oversold level will increase the chances of gaining extra negative momentum, to resume the bearish attempts that might target 243.40 and 233.70 level.

The expected trading range for today is between 243.40 and 270.00

Trend forecast: Bearish