Brent crude oil extends its gains – Analysis 02-05-2025 – ForexNews.PRO
Brent crude oil continued the rise in its recent intraday trading, affected by the stability of the key support at $60.00, gaining positive momentum that assisted it to achieve strong gains, in attempt to correct the main bearish trend on the short-term basis.
Despite this solid performance, the negative pressure by its trading below EMA50 remains valid, besides its trading alongside bearish bias line, accompanied by the (RSI)reach to exaggerated overbought areas compared to the price move, which indicates the beginning of forming a negative divergence there.
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