Pinduoduo Inc. (PDD) remained on modest and cautious gains in recent intraday trading, as the stock attempts to recover part of its previous losses. However, negative pressure continues to weigh on price action due to its trading below the 50-day Simple Moving Average (SMA), reinforcing the strength and stability of the primary short-term bearish trend. The stock also continues to move alongside a descending trendline that supports the current downtrend. At the same time, it is attempting to work off its oversold conditions on momentum indicators.

Therefore, our outlook remains bearish for the stock's upcoming trading sessions, with the stock expected to retest the $71.95 support level. A break below that level would strengthen the likelihood of an extension of the current downward move.

Today's price forecast: Bearish.

(ETHUSD) declined in its last intraday trading, as it reached EMA50’s resistance, putting it under negative pressure, which forced it to rebound, especially with the emergence of the negative signals from the relative strength indicators, after reaching overbought levels, which intensified this pressure, amid the dominance of the main bearish trend on the short-term basis.

Brent crude oil witnessed cautious and limited gains at its last intraday levels, with the dominance of the negative pressure that comes from its trading below EMA50, which reduces the chances of its full recovery in the upcoming near period, especially with the emergence of the negative signals from the relative strength indicators after reaching overbought levels, under the dominance of the short-term main bearish trend.

The price of Bitcoin declined in its recent intraday trading, resuming its negative moves, amid the dominance of the sellers on the markets, with the weakness of the overbought conditions, which limits the chances of strong rebound in the near period.

Accompanied by the emergence of the negative signals from the relative strength indicators, indicating the decline of the bullish momentum, as the price keeps trading below EMA50, which represents a dynamic resistance that reinforces the strength and stability of the main bearish trend on the short-term basis, especially with the price move alongside bearish trend line that supports this path.