Copper price confirmed breaching $5.9700 barrier, to form strong bullish rally, achieving the initial positive target by reaching $6.1300 level, to settle near it.

Note that stochastic continues to provide positive momentum by reaching the overbought level, which will increase the efficiency of the bullish trend, to prefer more bullish attempts that might target $6.2600 and $6.3300.

The expected trading range for today is between $6.0400 and $6.2600

Trend forecast: Bullish

Ethereum (ETHUSD) continued to decline during recent intraday trading after breaking out of a minor ascending price channel that had been limiting its movement. The price also moved below the EMA50, increasing downside pressure if this breakdown is confirmed in the near term. This comes alongside negative signals emerging from the relative strength indicators, despite reaching deeply oversold conditions.

Brent crude oil declined during recent intraday trading, with negative crossover signals beginning to appear on the relative strength indicators after the market previously relieved oversold conditions. This opens the door for further losses in the near term, especially amid continued downside pressure as the price remains below the EMA50 and after breaking a short-term ascending trendline earlier.

USDCHF is trading lower during recent intraday sessions, as the pair prepares to break the key support level at 0.7780, which had previously been our price target. This comes amid the dominance of the short-term bearish trend, with price movement aligned along major and minor descending trendlines, while continued trading below the EMA50 adds further downside pressure.

At the same time, negative crossover signals are beginning to appear on the relative strength indicators after the pair partially eased its oversold conditions, supporting the possibility of additional losses.