Bitcoin (BTCUSD) prices declined during their last intraday trading, affected by reaching the resistance of EMA50, with the emergence of the negative signals on the relative strength indicators after reaching overbought levels, affected by breaching minor bearish trend line on the short-term basis, therefore, we attribute the recent declines to the price’s attempt to gain bullish momentum to help it surpass the negative pressure.
Brent crude oil price witnessed slight cautious gains on its last intraday levels, with the emergence of negative overlapping signals on the relative strength indicators, after reaching exaggerated overbought levels compared to the price move, increasing the negative pressure on the price, especially with its trading below EMA50, and under the dominance of the minor bearish trend on the short-term basis.
The price of (crude oil) rose in its last intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the dominance and stability of the bearish trend on the short-term basis, especially with its trading alongside trend line, besides forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of the negative signals.
The price of (silver) declined in its last trading on the intraday basis, affected by breaching bearish corrective trend line on the short-term basis, leaning on the support of EMA50, to gather the gains of its previous rises, and attempting to gain bullish momentum by offloading its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals, to recover in the upcoming period.