Evening update for crude oil -05-08-2026

Gold extended its strong gains during the latest intraday trading session, successfully breaking above the $4,200 resistance level, which was our final upside target in previous analysis, supported by a short-term bullish corrective trend, while continuing to trade above EMA50.with the continuation of the positive signals from the relative strength indicator, despite reaching overbought levels, besides the big volume of the bullish momentum, which reinforces the chances of extending these gains in the near upcoming period.

The EURUSD pair continued its upward move during the latest intraday trading session, reaching the 1.1555 resistance level, which was our target in previous analysis. The pair continues to benefit from positive support as it trades above EMA50, while a short-term bullish corrective wave remains in control.

Solana (SOLUSD) pulled back in recent intraday trading as the cryptocurrency remained under the control of a short-term bearish trend, with price action continuing to follow a descending trendline that reinforces the prevailing downside bias. Momentum indicators have also begun generating fresh bearish signals after reaching extremely overbought territory, adding to the negative pressure surrounding the price. However, Solana continues to trade above its 50-period Simple Moving Average (SMA), which is acting as dynamic support and has helped the price remain resilient despite the prevailing bearish pressures.