Forecast update for Bitcoin -07-08-2026

Crude oil price declined in the last intraday trading, amid the dominance of the bearish corrective trend on the short-term basis, with its trading alongside supportive trend line for this track, besides the continuation of the negative pressure that comes from its trading below EMA50, noticing the beginning of forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price action, with the emergence of negative signals from them.

Silver price witnessed strong and consecutive series of gains in its last intraday trading, breaching the key resistance level at $63.20, amid the continuation of the positive support that comes from its trading above EMA50, which reinforces the stability and dominance of the bullish corrective trend on the short-term basis, besides the emergence of the positive signals from the relative strength indicators, despite reaching overbought levels, intensifying the chances of extending these gains in the near upcoming period.

Gold price rose in its recent intraday trading, breaching $4,2000 resistance level, supported by the positive signals from the relative strength indicators, amid the continuation of the dominant bullish wave on the short-term basis, indicating the strength of the buying momentum and the dominance of the buyers.