Copper price suffered new positive pressures due to the continuation of forming extra support by moving average 55 stability near $5.9500, besides stochastic rally to 80 level, forcing it to delay the previously waited corrective attempts by its rally towards $6.2850, approaching the initial barrier.

The continuation of the positive pressure might push it to surpass the current barrier, to record some gains by its rally towards $6.3800 and $6.4500, while the failure of the breach will force it to provide mixed trading with a new chance to target $6.1000 level, reaching the mentioned support to find an exit for activating the corrective trend again.

The expected trading range for today is between $6.1500 and $6.3800

Trend forecast: Bullish

(ETHUSD) settles in its latest intraday levels, supported by the emergence of the positive signals from the relative strength indicators, after forming positive divergence that provided bullish momentum that helped it to achieve these gains, surpassing EMA50’S resistance, to surpass the negative pressure and recover in the near upcoming period, especially with the dominance of the main bullish trend on the short-term basis.

Brent crude oil kept rising in its recent intraday trading, amid the dominance of bullish corrective wave on the short-term basis, with its trading alongside steep bullish trend line, as a clear signal for the strength of this path, especially with the continuation of the positive pressure due to its trading above EMA50, on the other hand, the relative strength indicators reach overbought levels, which might reduce the positive action in the upcoming near period.

The USDCHF pair declined in its last intraday trading, after reaching the key resistance at 0.8135, which represented an expected target in our previous analysis, to gather the gains of the previous rises, and attempt to gain bullish momentum that might help the price to resume its gains in the upcoming near period. The pair is attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of negative overlapping signals.

This comes amid the continuation of the positive support due to its trading above EMA50, which reinforces the stability and dominance of the main bullish trend on the short-term basis.