Forecast update for Bitcoin -05-11-2026

Crude oil rose in its latest intraday trading after the pivotal support level at $86.40 held firm, providing some positive momentum that helped it achieve these gains. The price is attempting to recover part of its previous losses while unwinding some of its clearly oversold conditions on the relative strength indicators, particularly as negative signals have started emerging from them. This comes amid the dominance of a steeply descending minor wave in the short term.

Silver is holding onto its gains in its latest intraday trading, benefiting from trading above the EMA50, which provides a dynamic support base and reinforces the chances of extending these gains in the near term. This comes particularly as the price is supported by a positive technical formation that developed earlier on the short-term timeframe, namely a double bottom pattern. However, negative signals have started emerging from the relative strength indicators after reaching deeply overbought levels, as the price is currently attempting to unwind these overbought conditions, which has capped its latest gains.

Gold is holding onto a series of sharp gains in its latest intraday trading, supported by its earlier breakout from a minor descending price channel that had constrained its previous short-term movements. The price is also benefiting from continued trading above the EMA50. However, negative signals have started emerging from the relative strength indicators after reaching deeply overbought levels, capping the latest gains as the price attempts to unwind these overbought conditions.