Bitcoin’s price declined in its last intraday trading, affected by the emergence of the negative signals on the relative strength indicators, despite reaching oversold levels, reaching the key support at $85,500, which represents expected target in our previous analysis, indicating the continuation of the selling pressures on the short-term basis.
This decline comes amid the continuation of the negative pressure due to its trading below EMA50, affected by breaking bullish corrective trend line on a short-term basis, reinforcing the likelihoods of breaking the current support and opening the way for more intraday declines.
Crude oil continued its decline in its recent intraday trading, to reach $56.40 key support, which represents potential target in our previous analysis, to become threatened by breaking this support, amid the continuation of the negative pressure that comes from its trading below EMA50, and under the dominance of the main bearish trend and its trading alongside supportive minor trend line for this track.
On the other hand, we notice the emergence of negative signals on the relative strength indicators, despite reaching oversold levels that may help to reduce the losses temporarily on a near-term basis, pushing the price to settle on the intraday basis before detecting its upcoming trend.
Gold rose slightly in its recent intraday trading, taking advantage of the stability of the main support at $4,300, gaining initial bullish momentum that reinforce by its trading above EMA50, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trend line for this track.
The relative strength indicators reached exaggerated oversold levels compared to the price move, indicating a decline in the surrounding negative pressures, and supporting the chances of stability and recovery in the upcoming period.
The (EURUSD) price kept attempting to gain bullish momentum in its last intraday trading, amid the dominance of the main bullish trend on the short-term basis, and the trading alongside supportive trend line, depending on the dynamic support that is represented by its trading above EMA50.
On the other hand, the relative strength indicators began sending negative signals after reaching overbought levels, which may limit the ability to achieve more gains in the near sessions, keeping its trading depending on the ability of the bullish momentum to rise.