Bitcoin (BTCUSD) declined during its recent intraday trading after facing EMA50’s resistance. This forced the price to pull back after achieving limited early-session gains, in what appeared to be a failed attempt to recover part of its previous losses and relieve some of the oversold conditions on the relative strength indicators. The price also remains affected by breaking a major short-term ascending trendline, which increases the likelihood of further losses in the near term.

Crude oil extended its gains during recent intraday trading, successfully breaking above the key resistance level of $98.00, which was one of our previous price targets, as an important step toward confirming a sustained breakout in the near term, supported by continued dynamic strength, as prices trade above EMA50, reinforcing the dominance of a short-term bullish sub-trend. In addition, positive signals continue to emerge from the relative strength indicators.

Silver continued its decline during recent intraday trading, breaking below the $73.60 support level, which was a previous price target, amid ongoing negative and dynamic pressure, as the price trades below EMA50, while moving along a short-term bearish trendline. Additionally, we observe continued negative signals from the relative strength indicators, despite reaching heavily oversold levels.

Gold recorded a series of consecutive losses in its recent intraday levels, reaching our morning price target at the $4,600 support level. This comes amid continued negative pressure resulting from trading below EMA50, which reinforces the strength and stability of a short-term minor bearish wave. The price is also moving along a supportive trendline for this downward path. In the background, we observe continued negative signals from the relative strength indicators, despite reaching heavily oversold levels.