Copper price succeeded in settling above $5.5100 support, to get rid of stochastic negativity by forming some bullish waves and achieving $5.8150 level.

Surpassing the $5.9700 barrier is important to open the way for activating the bullish trend again, opening the way for recording several gains by its rally towards $6.1200, to press on $6.2400 resistance.

The expected trading range for today is between $5.7200 and $5.9700

Trend forecast: Bullish

The (ETHUSD) price witnessed strong losses on its last intraday levels, amid the dominance of the main bearish trend on short-term basis, with the emergence of negative signals from relative strength indicators, despite reaching oversold levels, besides the negative pressure due to its trading below EMA50, intensifying the negative pressure around it.

The (Brent) price declined in its last intraday trading, attempting to look for a rising low to take it as a base that might help it to gain the required bullish momentum to recover and rise again, amid the dominance of the main bullish trend on short-term basis, with the continuation of its trading above EMA50, reinforcing the chances of its recovery on near-term basis, especially with the emerging of positive overlapping signals from relative strength indicators, after offloading its overbought conditions, which make it able to achieve new gains.

The (USDCHF) price slipped lower in its last intraday trading, amid the emergence of negative signals from relative strength indicators, after reaching overbought levels, to break bullish corrective trend line on short-term basis, reinforcing the bearish scenario, to lean on EMA50’s support, if it surpasses it, the price momentum to deepen its losses will be formed in the upcoming period.