Bitcoin (BTCUSD) settles with strong gains in its recent intraday trading, settled above the key resistance of $79,300, in a clear signal for breaching it technically, with the emergence of positive signals from relative strength indicators, after offloading its overbought conditions, opening the way for expanding its gains in the upcoming near period.
With the continuation of the positive and dynamic pressure that is represented by its trading above EMA50, which reinforces the stability and dominance of the main bullish trend on short-term basis, with its trading alongside supportive trend for this track.
Crude oil price declined slightly in its lats intraday trading, to gather gains after the previous rises, accompanied by the price attempt to rebuild bullish momentum that might help it to resume its strong gains again.
The price take advantage from the dynamic support that comes from its trading above EMA50, reinforcing the stability of the bullish trend on short-term basis, especially with its organized move alongside supportive trend line for this path, the relative strength indicators supports this bullish overview with the emergence of bullish signals that reinforces the chances of regaining the momentum and achieving gain in the upcoming period.
Silver price settles with strong losses during its recent intraday trading, to confirm breaking $73.60 support, in a negative signal that indicates the continuation of the negative scenario dominance on the short-term basis, this comes amid the dominance of minor bearish wave that pushes the price to keep its negative track.
The price is under additional negative pressure due to its trading below EMA50, which represents dynamic resistance that reinforces the negative overview, accompanied by the continuation of the negative signals emergence from the relative strength indicators, increasing the likelihoods of continuing the decline in upcoming period, with the absence of strong negative signals that supports the recovery.
Gold rose slightly in its latest intraday trading, supported by its stability above the key support level of $4,500. This provided some positive momentum that helped drive this limited rebound. The improvement comes as part of an attempt to recover some of its previous losses, alongside efforts to ease the clear oversold condition on relative strength indicators, especially with the emergence of a positive crossover supporting this temporary bullish move.
Despite this improvement, negative pressure remains in place, as a short-term bearish minor wave continues to dominate. The price is moving along a trendline supporting this downward direction, while trading below EMA50 continues to act as a limiting factor, reducing the chances of a sustained recovery in the near term.