Copper price opened today’s trading with clear negativity, forming new negative price gap, achieving $5.5600 level to confirm the previously suggested bearish corrective scenario.

We expect forming more negative attempts to press on the extra support at $5.5100, which represents the key of the expect trend in the near and medium trading, as breaking this support and holding below it will force the price to suffer extra losses that might extend to $5.2800 and $5.1200, while holding above it reinforces the chances of forming some bullish waves, which might extend towards $5.8500 initially.

The expected trading range for today is between $5.5100 and $5.7500

Trend forecast: Bearish

Ethereum price (ETHUSD) is witnessing volatile trading during its latest intraday levels, after previously breaking out of an upward corrective price channel that contained its movements in the short term. Negative and dynamic pressure continues as the price trades below EMA50, which reduces the chances of a near-term recovery, especially with the emergence of negative signals from the relative strength indicators after the price managed to relieve its previous oversold condition.

The (Brent) price extended its strong gains in the beginning of this week trading as appears in the above daily chart, amid the dominance of the main bullish trend on short-term basis, with the continuation of the dynamic pressure that is represented by its trading above EMA50, besides the emergence of positive signals from relative strength indicators after offloading its overbought conditions previously, opening the way for expanding its gains on the intraday basis.

The (USDCHF) price surged high in its last intraday trading, after learning on EMA50’s support, gaining bullish momentum that helped it to achieve these last gains, especially with the emergence of oversold signals from relative strength indicators, after reaching oversold levels, which support the positive momentum, amid the dominance of the bullish corrective trend on short-term basis.