Copper price formed temporary negative rebound after reaching $5.01000 level and recording the waited targets, to fluctuate near 38.1%Fiboancci correctional level at $4.8900.

The current negative rebound won’t represent any threat to the chances of resuming the bullish attack, as there are several bullish factors such as forming a new support at $4.8000 level, to provide the positive momentum for the main indicators, therefore, we will keep waiting for renewing the bullish attempts to target $5.0300 level reaching $5.1000 level.

The expected trading range for today is between $4.8500 and $5.030

Trend forecast: Bullish

The (ETHUSD) price declined sharply in its last intraday trading, surpassing the support of its EMA50, under the negative pressure that led it to break a minor bullish trend line on the short-term basis, increasing the negative pressure, especially with the negative signals on the (RSI), despite its stability in oversold levels.

The (Brent) price declined slightly in its last intraday trading, amid the emergence of the negative signals on the (RSI), amid its attempts to gain positive momentum that might assist it to recover and rise again, with the continuation of the dynamic support that is represented by its trading above its EMA50, which prevented the price’s decline in the previous period, and under the dominance of the bullish trend on the short-term basis.

The (silver) price kept rising in its last intraday trading, supported by its continuous trading above its EMA50, and under the dominance of the main bullish trend on the short-term basis and its trading alongside a bias line, besides the emergence of the positive signals on the (RSI), despite reaching overbought levels, suggesting a full dominance for the buying strength on the price.