3M Company (MMM) extended its gains in recent intraday trading after previously finding support at its 50-day Simple Moving Average (SMA), which provided the stock with fresh positive momentum and helped fuel the latest advance. A short-term bullish trend remains firmly in control, with price action continuing to move alongside an ascending trendline that supports the current trajectory. In addition, a bullish divergence is beginning to form on momentum indicators after they reached extremely oversold levels, to a degree that appeared exaggerated relative to the stock's price action. Positive signals have also started to emerge, further strengthening the bullish outlook.
Therefore, our outlook remains bullish for the stock's upcoming intraday trading sessions, as long as support at $154.60 holds firm. Under this scenario, the stock is expected to target its first resistance level at $164.00.
Today's price forecast: Bullish.
Ethereum (ETHUSD) rose in its last intraday trading, supported by the emergence of the positive signals from the relative strength indicators after reaching oversold levels, to surpass EMA50’s resistance and get rid of its negative pressure, which helped it to reinforce these gains, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this path.
Brent crude oil extended its gains in its last intraday levels, attacking $86.00 resistance, which was our previous expected target, amid the dominance of strong bullish corrective wave on the short-term basis, with continued positive and dynamic support due to its trading above EMA50, which reinforces the chances of extending these gains in the upcoming near period
The price of Bitcoin keeps its last intraday gains, which helped it to recover part of its previous losses, offloading its oversold levels on the relative strength indicators, until it reached severe overbought levels, as a clear signal for offloading this bullish momentum, affected by the negative pressure due to its trading below EMA50, which represents a dynamic resistance that reduces the chances of full recovery in the near upcoming period.