International Business Machines Corporation (IBM) stock price recorded stability with gains in its latest intraday trading, after managing to ease its oversold conditions on the Stochastic indicator. This comes amid the dominance of a steep short-term corrective bearish wave, following the break of a main bullish trendline, while the stock continues to face negative dynamic pressure from trading below its 50-day SMA, which increases the surrounding downside pressure.

Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $253.80 remains intact, targeting the support level at $214.50.

Today’s price forecast: Bearish

The price of (crude oil) surged high in its last intraday trading, breaching $75.00 resistance, which represented an expected target in our previous analysis, taking advantage of the positive signals emergence from relative strength indicators, amid the dominance of the main bullish trend on short-term basis, with the continuation of the dynamic pressure that is represented by its trading above EMA50, reinforcing the chances of extending its gains in the upcoming period.

The price of (silver) continued its decline in its last intraday trading, after breaking its EMA50’s support, which increased the negative pressure and pushed it to deepen its losses clearly, accompanied by the emergence of negative signals from relative strength indicators, as a signal for increasing the selling momentum, before confirming the negativity of the scene by breaking bullish corrective trend line on short-term basis, intensifying the chances of near term recovery.

The price of gold slipped lower in its last intraday trading, after breaking minor bullish trend line on short-term basis, which pushed it into a wave of increasing negative pressure, which increased by breaking EMA50’s support, accompanied by the emergence of clear negative signals from relative strength indicators, indicating a sudden turn in the technical track and reinforces the possibilities of the decline continuation in the near period.