The (GBPUSD) price declined on its last intraday trading, affected by breaking a bullish correctional bias line on a short-term basis, with the emergence of the negative signals on the (RSI), surpassing the support of its EMA50, which might intensify the negative pressure around the price, opening the way for recording more of the losses on the near-term basis.
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The price of Bitcoin (BTCUSD) continued its decline in its last intraday trading, affected by the dominance of minor bearish wave on the short-term basis, as a signal for the strength of the dominance negative momentum, and the price resumes its trading below EMA50, reinforcing the negative pressure.
At the same time, the negative signs are coming from the (RSI), despite reaching sharp oversold levels, which might provide some chances for the temporary rebound attempts, but the main trend remains preferring more downside moves unless it regains key technical levels that support the recovery.
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The (crude oil) price rose in its last intraday trading, attempting to recover some of its previous losses, taking advantage of the attempts to offload the clear oversold conditions on the (RSI), especially with the emergence of positive overlapping signal that indicates improvement in the technical momentum.
Despite this rise, the price remains facing strong pressure with the continuation of its dynamic resistance at the EMA50, besides the stability of the trading under the dominance of the bearish trend on the short-term basis, reducing the chances for recovery continuation and impose cautious against any upcoming rising attempt.
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The (Gold) price continued its decline in its last intraday trading, amid its move within bearish correctional channel’s range on a short-term basis, this decline was supported by the continuation of the negative pressure that comes from the trading below EMA50, reinforcing the weakness of the positive momentum, leading to breaking $3,325 that represents expected target in our previous forecast.
The decline accompanied by renewed negative signals on the (RSI), despite reaching oversold levels, indicating the continuation of the dominant selling power on the yellow metal’s trading, opening the way for more downside moves unless new positive signs appear.
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