International Paper Company (IP) extended its gains in its latest intraday trading as the stock attempts to correct its main short-term descending trend. However, continuous negative pressure persists from trading below its previous 50-day SMA, which limits its near-term recovery prospects. This comes especially with the emergence of a negative crossover on the RSI indicators after they reached extremely overbought levels in an exaggerated manner compared to the price movement, suggesting the early formation of a negative divergence.

Therefore we expect the stock to decline in its upcoming trading, especially if the resistance level of $39.50 holds, targeting again the pivotal support level of $35.55.

Today’s price forecast: Bearish

The price of (ETHUSD) settled with sharp decline in its last intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the dominance and the stability of the main bearish trend line, especially with its trading alongside minor trend line on the short-term basis, on the other hand, we notice the emergence of positive overlapping signals on the relative strength indicators, after reaching oversold levels, which might reduce the upcoming losses due to its neediness to offload some of this oversold conditions.

Bitcoin (BTCUSD) prices settled after sharp early losses in its last intraday trading, attempting to offload some clear oversold conditions on the relative strength indicators, especially with the beginning of positive overlapping signals, affected by its exit from the range if bullish corrective channel that limited its previous trading on the short-term basis, and there is dynamic negative pressure that is represented by its trading below EMA50, reducing the chances of the recovery on the near period.

Brent crude oil declined in its last intraday trading, amid the emergence of the negative signals on the relative strength indicators, after reaching overbought levels, in attempt to offload these overbought conditions, gathering its positive strength that may help it to rise again, amid the continuation of the dynamic positive pressure that is represented by its trading above EMA50, affected by its exit from minor bearish channel’s range on the short-term basis.