Marvell Technology (MRVL) settled higher in its latest intraday trading, confirming a breakout above the key resistance level of 83.25, which had been our previous upside target. The move comes amid the dominance of a short-term corrective uptrend and the stock’s movement along a supporting trendline, reinforced by continued positive pressure from trading above its 50-day simple moving average. Moreover, RSI indicators are showing fresh bullish signals despite remaining in overbought territory.
Therefore, we expect the stock to rise in upcoming trading, as long as it holds above 83.25, targeting the next resistance level at 99.50.
Today’s price forecast: Bullish.
The price of (ETHUSD) rose in its last trading on the intraday basis, amid its trading alongside bullish corrective trendline on the short-term basis, reinforced by its continued trading above EMA50, besides the emerging of the positive signals on the relative strength indicators, all these signs confirm continuing the rise in the upcoming period, if it kept the near critical support levels.
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Bitcoin (BTCUSD) prices rose in their upcoming trading on the intraday basis, accompanied by the supportive signals on the relative strength indicators, after forming positive divergence, amid the continuation of its trading above EMA50, reinforcing the stability of the main bullish trend on the short-term basis, especially with the price trading alongside steep trendline, indicating the strength of this trend.
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Brent crude oil prices witnessed fluctuated moves on its last intraday levels, amid the dominance of bullish corrective wave, supported by the emergence of the positive signals on the relative strength indicators, reaching exaggerated overbought level compared to the price movement, besides the continuation of the negative pressure due to its trading below EMA50, intensifying the negative pressure on the price, which forced it to fluctuate.
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