Bitcoin (BTCUSD) price rose in its recent intraday trading, to breach $77,500 key resistance, which represented an expected target in our previous analysis, taking advantage of the dominance of the main bullish trend on short-term basis, with its trading alongside supportive main and minor trend lines for this path, with the continuation of the positive pressure that comes from its trading above EMA50, besides the emergence of positive signals from relative strength indicators, despite reaching overbought levels.
Crude oil price settles with gains in its last intraday trading, affected by breaching bearish corrective trend line on short-term basis, gaining bullish momentum that attempts to surpass the negative pressure of EMA50, announcing its full recovery in the upcoming near period, with the emergence of the negative signals from the relative strength indicators, after reaching overbought levels, which prevented extending the last gains.
Silver price declined slightly in its recent intraday trading , after offloading its oversold conditions on the relative strength indicators in its early trading for today, to notice that the indicators reached sever overbought levels compared to the price move, after reaching EMA50, which prevented extending its gains, affected by exiting short- term negative technical formation’s range, which is the rising wedge pattern.
Gold price keeps its early gains, supported by the emergence of the positive signals from the relative strength indicators, despite reaching exaggerated overbought levels compared to the price move, as a signal for losing this positive momentum quickly, especially with the continuation of the dynamic negative pressure that is represented by its trading below EMA50, affected by breaking bullish corrective trend line on short-term basis, reducing the chances of full recovery on the near-term basis.