Forecast update for brent crude oil -08-05-2025
The price of brent crude oil rose in its last intraday trading, to test the main bearish trend line on the short-term basis, accompanied by reaching the resistance of its EMA50, increasing the strength of this area as a resistance against the upside track.
This performance comes after the price success of gaining some of the positive momentum, due to the stability of the support level of $60.70, attempting to recover some of its previous losses and offloading some of its clear oversold conditions on the (RSI), especially with the emergence of positive signals from it.
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Forecast update for crude oil -08-05-2025
The price of crude oil rose in its last intraday trading, affected by the stability of the support level $57.40, providing positive momentum that help the price in offloading some of its oversold conditions on the (RSI), especially with the emergence of the positive signals from it, with the continuation of the negative pressure due to its trading below its moving average and the domination of the main bearish trend.
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Forecast update for silver -08-05-2025
The price of silver faced negative pressure in its last intraday trading, where it declined to break a bullish correctional bias line on the short-term basis, accompanied by surpassing the support of its EMA50, forming extra pressure.
This performance came despite the positive signals on the (RSI) after reaching oversold levels in attempt to offload this oversold condition, but it didn’t affect the price decline, which indicates that the selling powers are the dominant.
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Forecast update for gold -08-05-2025
The price of gold declined in its last intraday trading, in a trip to look for a rising bottom to take it as a base that might help it to gain the required positive momentum for its recovery, with a negative pressure by the negative signals on the (RSI), despite this sharp decline the bullish trend is the dominant on the short-term basis and it moves alongside a bias line, with the continuation of the positive pressure due to its trading above EMA50.
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