Silver rose during its latest intraday trading, attempting to recover part of its previous losses and retest the key resistance level of $65.60. This comes as the price was previously affected by breaking below a major short-term bullish trend line, with continued negative pressure resulting from trading below EMA50, which reduces the chances of a full recovery in the near term.
Meanwhile, the relative strength indicators reached extremely overbought levels, suggesting the beginning of a bearish divergence, coinciding with the emergence of a bearish crossover. This could limit the price’s ability to continue rising and bring renewed negative pressure back.
Gold keeps its recent gains, driven by positive signals from the relative strength indicators, bringing the price back to retest the key resistance level of $4,400. However, this comes amid the dominance of a steep bearish corrective wave in the short term, with continued negative pressure resulting from trading below EMA50.
MoreThe (EURUSD) price is trading lower in its latest intraday movements, amid continued negative pressure resulting from its trading below EMA50, reducing the pair’s chances of a full recovery and reinforcing the stability of the short-term bearish corrective trend, as the price continues to move alongside a trend line supporting this scenario.
MoreBitcoin (BTCUSD) price advanced during its latest intraday trading after the support level at $76,000 held firm. This support was our price target. The rise has allowed the price to recover part of its previous losses while also attempting to ease some of its clearly oversold conditions on the relative strength indicators, particularly with positive signals emerging from them. This comes amid the dominance of a short-term bearish corrective wave, with continued negative pressure resulting from trading below EMA50, which reduces the chances of a full recovery in the near term.
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