Spot Gold, WTI Crude Oil Futures

Brent crude oil futures broke below the major downtrend line.

Affected by the steady resistance at the key level of USD 62.25, Brent crude oil futures fluctuated lower in the latest round of intraday trading, attempting to reverse previous gains and alleviate the overbought conditions evident on the Relative Strength Index (RSI). Particularly under negative crossover signals, prices fell below the main downtrend line in the short term, while still trading above the 50-day moving average, which indicates dynamic pressure and increases the likelihood of a continued uptrend in the near term.

The upward trend in international spot silver remains dominant.

International spot silver experienced fluctuations in the most recent intraday trading session. Supported by the EMA50, it gained upward momentum, reinforcing the possibility of further near-term increases. Especially after reaching oversold levels, positive signals emerged on the RSI, with the primary uptrend remaining predominant in the short term. The trading aligns with the supportive trendline of this movement.

WTI crude oil futures pulled back after a significant rise.

WTI crude oil futures saw a minor decline in recent intraday trading as part of a natural profit-taking process following a series of strong rallies, aiming to rebuild the necessary upward momentum to help break through the stubborn resistance at USD 58.70. This decline was accompanied by some easing of apparent overbought conditions on the RSI, particularly under negative overlapping signals, reflecting a temporary cooling of momentum. Previously, prices had broken through the downward pressure of the EMA50, leaving open the possibility of a resumption of upward movement in the short term.

International spot gold is likely to continue rising in the near term.

International spot gold fluctuated in recent intraday trading, with prices retreating amid rapid profit-taking following earlier gains. Previously, gold prices rebounded with support from the 50-day moving average (EMA50), which provided technical backing for the resumption of the upward trend. Despite current volatility, the primary uptrend remains dominant in the short term, with trading prices fluctuating along the supportive trendline, and the RSI also issuing positive signals. Therefore, despite the current fluctuations, there remains a possibility of further upward movement in the short term.