Copper price ended yesterday’s trading by forming bullish waves, to settle near the initial barrier at $6.3000 level, affected by the positivity of the main indicators, specifically by stochastic reach to 80 level as appears in the above image.

The suggested scenario depends on the upcoming four hours’ close, the stability below the barrier will reinforce the chances of forming bearish corrective trading, to target $6.1200 reaching $5.9500, while breaching the barrier and holding above it will provide a chance for recording some extra gains by its rally towards $6.4800.

The expected trading range for today is between $6.1200 and $6.3800

Trend forecast: Bearish

(ETHUSD) declined in its latest intraday levels, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to recover and rise again, at the same time it attempts to offload some of its overbought conditions on the relative strength indicators, especially with the emergence of negative signals from them, amid the dominance of the main bullish trend on the short-term basis, with the continuation of the positive pressure due to its trading above EMA50, which provides a dynamic support base that reinforces the chances of resuming its gains.

Brent crude oil rose in its recent intraday trading, preparing to attack the resistance of $86.00, which was a target in our previous analysis, amid the dominance of the bullish corrective trend on the short-term basis, with the continuation of the positive pressure due to its trading above EMA50, noticing the emergence of positive overlapping signals from the relative strength indicators, after offloading its overbought conditions, opening the way for targeting new resistance levels in the upcoming near period.

The USDCHF pair declined in its last intraday trading, due to the stability of the key resistance at 0.8135, attempting to look for a higher low to use it as a base that might help it to gain bullish momentum to push it to recover, leaning on EMA50’s support, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line. Noticing the emergence of positive overlapping signals from the relative strength indicators, after reaching oversold levels, reinforcing the chances of a recovery.