Bitcoin (BTCUSD) succumbed to negative pressure, declining in its latest intraday trading after encountering EMA50’s resistance. This has restored the dominance of the short-term corrective bearish trend. The relative strength indicators are also generating negative signals after reaching deeply overbought levels, intensifying the downward pressure and warning of further declines in the near term.
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Crude oil extended its gains in its latest intraday trading, with the latest rise pushing the price to test the pivotal resistance level at $102.00. This advance is supported by continued trading above EMA50, which provides renewed positive momentum and reinforces the dominance and stability of the main short-term bullish trend. The price is moving alongside a trend line supporting this path, while the relative strength indicators continues to signal positive momentum.
MoreGold edged lower in its latest intraday trading, amid continued negative pressure from trading below EMA50, which limits the chances of a full recovery in the near term. This comes as the main short-term bearish trend continues to dominate, with price moving alongside a trend line supporting this path. We also note emerging negative signals from the relative strength indicators.
MoreThe EURUSD price has risen in its latest intraday trading, driven by positive signals from the relative strength indicators after it reached deeply oversold levels. This has provided the pair with positive momentum, helping it achieve these gains as it attempts to recoup some of its previous losses. However, negative pressure remains in place as the pair continues to trade below EMA50, with the main short-term bearish trend still dominating price action.
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