Crude oil prices declined slightly during the latest intraday trading, as part of natural profit-taking after a series of strong gains achieved recently, to rebuild the bullish momentum needed to help it break through the stubborn resistance level at $58.70.
This decline is accompanied by the attempts of offloading some of the clear overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals, reflecting a temporary cooling in momentum, after surpassing the negative pressure of EMA50, which keeps the chances of resuming the rise on the near-term basis valid.
Gold declined in its recent intraday trading with fluctuating moves, as it witnessed quick profit-taking following the gains it achieved recently. This came after its rebound from relying on the support of its EMA50, which provided a technical base that helped it resume positive performance.
This limited decline comes amid the continuation of the main bullish trend dominance on the short-term basis, with the trading alongside supportive trend line for this track, beside the emergence of the positive signals from the relative strength indicators, which keeps the chances of extending the gains valid in the near-term basis despite the current fluctuation.
The (EURUSD) price declined in its last intraday trading, to break 1.1655 key support, which represents our target in our previous analysis, amid the dominance of bearish corrective wave on the short-term basis with trading alongside bearish trend line.
This negative performance is reinforced by the trading below EMA50, imposing clear dynamic pressure, besides the emergence of negative signals from the relative strength indicators, despite reaching oversold levels, indicating the continuation of the bearish pressure dominance in the current period.
The (BTCUSD) price rose in its last intraday trading, attempting to recover some previous losses and attempts at the same time to offload some of its clear oversold conditions on the relative strength indicators, after reaching oversold levels, to hit the resistance of EMA50, amid the dominance of bearish corrective wave on a short-term basis.