Silver witnessed slight gains on its latest intraday levels, taking advantage of the support level stability at $55.00, which was one of our expected targets, gaining some bullish momentum to recover part of its previous losses, and offloading some of its oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from them, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which reduces the chances of full recovery on the near-period.

Gold rose in limited and cautious range on its last intraday levels, attempting to recover some previous losses, and offloading some of its oversold conditions on the relative strength indicators, especially with the emergence of the positive signals from them, amid the continuation of the negative pressure that comes from its trading below EMA50, which represents dynamic resistance that reinforces the strength and dominance of the main bearish trend on the short-term basis.

The EURUSD pair declined in its last intraday trading, leaning on EMA50’s support, amid its attempts to look for higher low to use it as a base to help it gain the required bullish momentum for its recovery, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside supportive trend line for this path, besides the emergence of the positive signals from the relative strength indicators after reaching oversold levels, intensifying the positive pressure on the pair.

Coffee price lost its bullish momentum in its last trading, forcing it to provide some bearish corrective trading by targeting 324.50 level, note that the contradiction of the main indicators might push the price to provide mixed sideways trading, however the main stability above 275.90 level forms an important support level that makes us keep the bullish scenario in the near and medium period trading.

The price needs a new bullish momentum, to step above 320.00 level, reinforcing the chances of forming new bullish waves, targeting 333.60 level initially, repeating the pressure on the barrier at 350.00.

The expected trading range for today is between 310.50 and 333.60

Trend forecast: Bullish