Bitcoin continued its decline during its latest intraday trading, affected by breaking a key short-term ascending trendline, which increased the negative pressure surrounding its movements. The price is also facing additional pressure as it trades below EMA50, strengthening the bearish trend in the near term.
On the other hand, we notice the emergence of positive signals from the relative strength indicators, along with the formation of a positive divergence, which may support the chances of a corrective upward rebound in the coming period to recover part of the recent losses.
Crude oil is holding onto consecutive gains during its latest intraday trading, after successfully gaining positive momentum following its earlier rebound from the support of EMA50, which helped reinforce these gains.
The price is now preparing to challenge the key resistance level at $100.00, amid the dominance of a short-term bullish trend, with price movements aligned along a supporting trendline for this direction, supporting the continuation of positive momentum. These movements also coincide with emerging positive signals from the relative strength indicators, which enhances the chances of continued upward movement in the coming period.
Silver declined during its latest intraday trading, approaching a break below the $67.00 support level, which previously represented a price target in our earlier analysis. This signals the possibility of continued negative pressure.
This performance comes amid the dominance of a short-term primary bearish trend, with price movements aligned along a supporting trendline for this direction. The price is also facing increasing negative pressure due to trading below EMA50, which enhances the likelihood of further losses in the coming period.
Gold continued its sharp decline during its latest intraday trading, reaching a key support level at $4,400, amid the dominance of a short-term bearish corrective trend. This comes alongside negative pressure due to trading below EMA50, reinforcing the dominance of the bearish trend.
On the other hand, we notice the beginning of a positive crossover of the relative strength indicators after reaching deeply oversold levels, which may support some corrective rebounds in the coming period, especially if the current support level holds, aiming to recover part of the previous losses.