PVH Corp (PVH) stock dipped slightly in its latest intraday trading, as it attempts to gather positive momentum that could aid in recovery and a return higher. The short-term corrective uptrend remains intact, supported by dynamic backing from continued trading above the 50-day SMA. Additionally, a positive divergence has started to form on the RSI after previously reaching heavily oversold levels compared to price action, with fresh positive signals beginning to emerge.
Therefore, we expect the stock to rise in its upcoming trading, as long as support at 79.00 holds, to target the key resistance level of 89.30.
Today’s price forecast: Bullish.
The (crude oil) witnessed fluctuated moves on its last intraday levels, with its attempts to gains bullish momentum that might help it to recover and rise again, the price managed to offload some of its overbought conditions on the relative strength indicators, opening the way for achieving new gains, amid its affection by positive technical formation on the short-term basis(double top pattern).
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The (Gold) price recovered in its last intraday levels, preparing to attack the main resistance level at $3,700, supported by forming bullish divergence on the relative strength indicators, after reaching oversold levels, exaggeratedly compared by the price movement, with the continuation of the positive pressure that comes from its trading above EMA50, and under the dominance of the main bullish trend on the short-term basis.
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The (EURUSD) rose in its last intraday trading, after it succeeded in its previous trading by offloading its overbought conditions on the relative strength indicators, opening the way for achieving mor of the gains, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive main and minor trend lines.
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