The (Brent) price rose high during its last intraday levels, supported by the emergence of the positive signals on the relative strength indicators, after offloading its overbought conditions, providing it bullish momentum to achieve more gains, to reach main bearish trendline on the short-term basis, accompanied by hitting the resistance of EMA50.
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The (silver) price rose in its last trading on the intraday basis, after reaching our expected target at $47.80 support, gaining some bullish momentum that helped it to achieve these gains, to recover some of its previous losses, and offloading some of its clear oversold conditions on the relative strength indicators, especially with the beginning of the positive signals’ emergence.
Despite the last rise, the price remains surrounded by negative pressure, first: its trading below EMA5, which reduces the chances of its sustainable recovery on the near-term basis, besides its affection by breaking minor bullish trend line on the short-term basis.
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The (USDCHF) price declined slightly in its last intraday trading, to gather the gains of its previous rises, and attempts to offload some of its overbought conditions on the relative strength indicators, especially with the beginning of the negative signals’ emergence, to gather its bullish strength that might help it to resume its strong gains, amid its trading alongside minor trendline on the short-term basis, on the other hand, the price is under negative pressure due to its trading below EMA50, which reduces the chances of sustainable recovery on the near-term basis.
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The (NZDUSD) price rose in its last intraday trading, preparing to attack the key resistance at 0.5755, supported by the positive signals on the relative strength indicators, despite reaching overbought levels, and there are dynamic support that is represented by its trading above EMA50, besides its affection by breaching main bearish trendline previously on the short-term basis.
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