Gold rose in its last intraday trading, supported by positive overlapping signals on the relative strength indicators after offloading its overbought conditions, opening the way for continuing the rise in a near-term basis, accompanied by the continuation of the positive support that comes from its trading above EMA50, reinforcing the strength of its current trend.
Gold continues its trading within minor bullish wave on the short-term basis, keeping its trading alongside supportive trendline for this track, to indicate clear stability in the bullish trend, these technical factors open the way for more gains, unless they face sudden pressures to break the current rise.
The (EURUSD) price rose in its last intraday trading, taking advantage of the dynamic support due to its trading above EMA50, supported by positive technical formation on the short-term basis, represented by the inverted head and shoulders pattern, which reinforces the likelihood of recovery continuation if the price settles above the near support levels.
On the other hand, there are negative overlapping signals on the relative strength indicators, after reaching overbought level which might limit the ability of the pair to achieve extra gains in the intraday basis, as it needs to offload this momentum before completing the rise.
The (BTCUSD) price settled in its recent intraday trading, amid the continuation of its trading below EMA50, with the emergence of the negative signals on the relative strength indicators, after reaching overbought levels, to notice entering exaggerated oversold levels, indicating a quick decline in the bearish momentum, and the main bearish trend remains the dominant on its trading on the short-term basis.
The (crude oil) slipped lower in its last intraday trading, breaking $57.40 support, this support represents our expected target in our previous analysis, affected by forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of the negative signals, amid the dominance of the main bearish trend and its trading alongside steep trend line on the short-term basis.