Monster Beverage Corporation (MNST) stock rose in its latest intraday trading, attempting to recover part of its previous losses and relieve its clearly oversold RSI conditions, especially as bullish signals begin to emerge. However, the stock remains under the influence of a short-term corrective downtrend and continues to face negative pressure from trading below the 50-day SMA, reinforcing the bearish outlook in the near term.

Therefore we expect the stock to decline in upcoming sessions, as long as resistance at $61.25 holds, targeting the support level at $56.70.

Today’s price forecast: Bearish.

The price of (ETHUSD) begins to recover in its recent intraday levels, after gaining positive momentum to assist it to keep the main bullish trend amid its trading alongside a minor bias line on the short-term basis and supportive for the positive scenario, the price gets advantage of the dynamic support that is represented by its trading above EMA50, besides forming a positive divergence on the (RSI), after reaching oversold levels, with the beginning of positive overlapping signals appearance.

The price of (BTCUSD) reinforced its gains in its intraday levels, supported by the stability of the critical support at$116,500 as we expected previously, gaining positive momentum that assist it to surpass the negative pressures, especially with the emergence of the positive signals on the (RSI), preparing to attack the main resistance level at $120,000, amid the dominance of the main bullish trend on the short-term basis and its trading alongside a supportive bias line for this trend.

The price of (Brent) declined in its last intraday levels, amid the continuation of the negative pressure that comes from its trading below EMA50, which prevents the price recovery on the intraday levels, especially after offloading its clear overbought conditions on the (RSI), intensifying the negative pressure and noticing the emergence of the negative signals again, to break main bullish trend line that was supporting its previous positive trading, which might reinforce the price decline in its upcoming trading.