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Copper price hits the resistance – Analysis – 16-9-2019
Copper price achieved the required correctional target by hitting the bearish channel’s resistance at 2.7600, to form a strong barrier against the bullish trading, the current scenario depends on the strength of this resistance to expect renewing the negative attempts by its stability, which might target 2.6000 and 2.5500 in the near period.
While the price rally above the current resistance and providing a positive close, so that will confirm its move to a new bullish track, to begin targeting several positive levels by reaching 2.7200 and 2.7800.
The expected trading range for today is between 2.6700 and 2.6000
The expected trend for today: Bearish
Platinum remains bullish – Analysis – 16-9-2019
Platinum price confirmed its affection by the bullish bias domination by providing repeated positive closes above 915.00 level, to keep the results of the inverted double top pattern, we expect renewing the bullish attempts by gaining extra positive momentum to target 980.00 level, and surpassing it will extend the trading to test 23.6% Fibonacci correction level at 1025.00.
MoreThe GBPJPY attempts to resume the bullish attack – Analysis – 16-9-2019
The GBPJPY pair get advantage from the positive pressures in the last period trading, to notice forming a new bullish rally, surpassing the barrier ay 133.70 and achieving a new target by hitting 135.10 level, in spite of the price current rebound to the downside, but the continuation of forming an extra support at 133.70 level will increase the chances for resuming the positivity, which might target 136.60 level in the near period.
MoreThe EURJPY ended the bullish rebound – Analysis – 16-9-2019
The EURJPY pair ended its positive rebound by hitting 120.05 level, which represents 38.2% Fibonacci correction level that appears in the above image, the continuation of this barrier stability will force the price to form several negative waves to target 118.45 reaching to 117.25 level in the upcoming period trading.
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