Copper price closed yesterday’s trading by reaching $6.1100 level, approaching the barrier at $6.1200, to begin this morning with new negative trading due to the continuation of providing negative momentum by stochastic, to press on the initial support at $5.9700 level.

All the above confirms the effect of the main indicators’ contradiction on the price, which increases the chances of forming bearish corrective waves in the current period, to reach $5.8900 followed by $5.8200, while its success in surpassing the previously mentioned obstacle 

The expected trading range for today is between $5.8200 and $6.100

Trend forecast: Fluctuated

Ethereum (ETHUSD) declined in its recent intraday trading due to the stability of $2,400 resistance level, which was identified as a price target. The current move reflects an attempt to establish a higher low that could serve as a base for rebuilding bullish momentum and resuming recovery.

At the same time, the price is offloading overbought conditions on the relative strength indicators, with the emergence of negative signals from them, to reach EMA50’s support, which reinforces the chances of its recovery on the near-term basis, with its trading alongside supportive trend line for this path.

Brent crude oil extended its recent gains in intraday trading after rebounding from the key resistance level at $100.00, which was identified as a price target. This move reflects an attempt to reduce clear overbought conditions shown on the relative strength indicators, especially as early negative signals begin to appear.

Despite this short-term cooling phase, the price remains supported by a short-term bullish structure, including a falling wedge pattern, alongside continued support from trading above EMA50. This reinforces the broader positive bias and supports the potential for further upside in the near term.

USDCHF continued its upward movement in recent intraday trading after managing to overcome the negative pressure from EMA50. The pair is now testing the key resistance level at 0.7845.

On the other hand, early signs of a bearish crossover are starting to appear on the relative strength indicators after reaching heavily overbought conditions, which may reduce the gains in the upcoming period due to its neediness to offload some of these overbought conditions before resuming its rise again.