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Copper affected the indicators’ contradiction – Analysis – 22-1-2018
To contradiction between the major indicators continued to force Copper price to show additional sideways trading by fluctuating around the initial support 3.2000, while the stability of the current support line will keep the bullish overview valid until this moment, waiting to gather the required momentum followed by reaching the first positive target at 3.4400.
We remind you that the price attempt to crawl below the initial support 3.2000 will postpone the bullish attempts and push the price for some correctional bearish trades, expecting to move towards 3.0800 level.
Expected trading range for today is between 3.2000 and 3.4400
Expected trend for today: Bullish
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Platinum keeps the positivity – Analysis – 22-1-2018
Platinum price resisted the negative pressures recently by showing clear stability around 1010.00 level, to confirm keeping the expected bullish bias domination, noticing its approach from the previously recorded top at 1020.00, noting that breaching this level will allow the price to achieve more targets in the near term and medium term period by rallying towards 1040.00 followed by 1085.00 levels.
MoreGBPJPY is slow – Analysis – 22-1-2018
The GBPJPY pair was forced to provide slow sideways trading recently despite its consolidation within the bullish channel, affected by stochastic exit from the overbought areas, which confirms the domination of the sideways bias for the near term period until gathering new positive momentum followed by repeating the attempts to reach the next positive target at 155.90.
MoreEURJPY is weak – Analysis – 22-1-2018
The EURJPY pair did not take advantage of the positive factors caused by its consolidation within the bullish channel, to surrender to stochastic negativity that settles below 50 level now, noticing that price fluctuation below 135.50 level to increase the chances of forming negative rebound and attempt to test the bullish channel’s support line at 133.80.
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