Bitcoin (BTCUSD) continued to decline during its latest intraday trading session after previously managing to ease some of its oversold conditions on the relative strength index, restoring selling momentum, increasing bearish pressure on the cryptocurrency.
The price remains under additional downside pressure as it continues to trade below EMA50, which reinforces the strength and stability of the dominant short-term bearish trend while limiting the chances of a meaningful recovery in the near term.
Crude Oil prices posted a strong rebound during the latest intraday session, moving within a corrective phase as the market searches for its next short-term direction. The price continues to receive positive support from the resilience of the key support level at $86.00.
However, the short-term corrective bearish trend remains dominant, with the trading along a minor downward trendline. Additional negative pressure is coming from trading below EMA50, while relative strength indicators started to show a negative crossover after unwinding previous oversold conditions, reinforcing the bearish outlook and increasing downside pressure on prices.
Silver prices remained under pressure during their latest intraday trading session, holding near lower levels as the dominant short-term bearish trend continues to prevail. Price action remains aligned with a downward-sloping trendline that supports this bearish trajectory.
Additional downside pressure is coming from trading below EMA50, which limits the potential for strong bullish rebounds in the near term. However, relative strength indicators began to show a positive crossover after reaching deeply oversold territory, helping silver stabilize and relieve some of the selling pressure.
Gold keeps declining in recent intraday sessions to break$4,200 support, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative and dynamic pressure that is represented by its trading below EMA50, besides the continuation of the negative signals emergence from the relative strength indicators, despite reaching oversold levels, as a signals for the strength of the dominance selling powers on the price.