Crude oil prices moved higher in its last intraday trading, after it succeeded in offloading its clear overbought conditions om the (RSI) in its previous trading, to renew the positive momentum, amid the dominance of the bullish correctional trend. The price is affected by the formation of a technical formation on a short-term basis, represented by an inverted head and shoulders pattern, as the price gets advantage from the continuous positive pressure due to its trading above EMA50.
Brent crude oil rose in its last intraday trading, supported by its continuous trading above its EMA50, moving alongside bullish correctional trend line on the short- term basis, noticing the beginning of overbought signals emergence on the (RSI), after it succeeded in offloading some of the clear overbought conditions.
Bitcoin price rose in its last trading on the intraday levels, after reaching our price target yesterday at $92.500, to attempt to breach now, amid the dominance of the main bullish trend on the short-term basis, and its trading alongside the trendline, with the continuation of the positive pressure due to its trading above the EMA50.
On the other hand, we notice the emergence of negative signals on the (RSI), after reaching clear overbought levels, which might decelerate the rise due to the neediness to offload some of the overbought conditions.
Ethereum rose sharply in its recent trading, to reach our technical target that we suggested yesterday at $1,800, to attempt to attack currently, supported by the domination of the bullish correctional trend on the short term basis and its trading alongside trendline, and the are positive signals on the (RSI), despite reaching overbought areas, and it gets advantages from the continuous trading above the EMA50, reinforcing the bullish scenario.