The pair’s trading settled in tight level recently towards the recorded top at 132.30 to limit the trading between this level and 131.70, which allows the trading to settle below the resistance level 132.70, thus we expect forming bearish bias through the near period if the resistance level settled to reach towards 130.80 then 129.60 which forms the initial support level which is supported by the moving average 55 as shown in the above image.

Stochastic is limited between 80 and 50 levels supporting the intraday sideways trading until forming a wave that assists it to achieve the previously suggested targets if the main resistance remained intact.

Expected trading range is between 130.80 and 132.70

Expected trend: bearish

The pair moved away from the main resistance of the bullish channel recording 155.35 approaching from the first and suggested target in our recent report towards 155.00

The pair remains affected by the bearish bias due to the stability of the resistance level waiting for achieving the first target, while breaking the initial support level will open the way to the second target around the moving average near 152.90, noticing a sharp decline for Stochastic to settle below 20 level which supports the negative overview of the near term trading.

Expected trading range is between 155.80 and 153.80

Expected trend: bearish

Platinum declined yesterday to visit 1474.50 to return to breach the moving average since this morning trading, forming an intraday bullish wave by settling around 1494.00, therefore the bearish bias will remain expected if the main resistance level settled around 1520.00 waiting for a close below the moving average to reach the previously suggested targets around 1460.00 followed by 1440.00

The continuation of the bullish wave makes the trading settles in tight level until surpassing the moving average; we notice that Stochastic formed a bullish wave that is approaching from 80 level in spite of the stability below the main resistance.

Expected trading range is between 1510.00 and 1460.00

Expected trend: bearish

In spite of copper price stability above the broken bearish channel, it settles below the moving average 55 forming a sideways pattern recently as apppaers in the above chart, also we notice that the price is affected by Stochastic negativity which forms bearish bias to approach from 50 level.

Thus we expect the continuation of the sideways trading to limit the price between the retest level towards 3.2650 and the moving average at 3.4200 until breaching one of these levels to detect the true trend in the near period.

Expected trading range is between 3.2650 and 3.4200

Expected trend: sideways.