The (GBPUSD) price rose in its last intraday trading, supported by the dominance of correctional wave on the intraday basis, taking advantage of the positive pressure that comes from its trading above EMA50, testing the resistance of a main bearish trend line on the short-term basis, accompanied by reaching overbought levels, indicating that the bullish correctional move is exhausted, suggesting the beginning of negative rebounds that target gaining positive momentum and return the balance for the trading.
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The price of Bitcoin (BTCUSD) declined slightly in its last intraday trading, in a correctional move to gather the gains of the previous rises, and the attempt of offloading the clear overbought condition on the (RSI), especially with the emergence of the negative signals, and the main bullish trend remains the dominant on the short-term basis, supported by the trading alongside a supportive bullish bias for this trend, and its stability above EMA50.
This decline might provide a chance for gaining new bullish momentum that helps it to regain the bullish track, if the price kept the current support level, while breaking it will open the way for deeper correctional wave before any attempt to rebound again.
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The (crude oil) price settled at sharp losses in its last intraday trading, affected by the continuation of the negative pressure from its stability below EMA50, and it remains under the dominance of minor bearish wave on the short-term basis, moving alongside bearish bias line, indicating the strength of the dominant negative momentum.
The emergence of the negative signals on the (RSI) reinforces this technical scene, despite entering oversold levels, indicating the continuation of the pressure unless witnessing strong bouncing attempts to break the dominant bearish track.
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The (Gold) price declined in its last intraday trading, after hitting the main resistance level at $3,400, which represents our potential target in our previous report. This decline came due to the stability of this resistance, attempting to gain positive momentum that might allow it to breach this level.
At the same time, gold price attempts to offload the clear overbought condition on the (RSI), especially with the beginning of negative signals, despite the continuation of the minor bullish wave on the short-term basis, indicating the strength of the dominant positive trend until now.
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