Copper price remains affected by stochastic negativity, forcing it to fluctuate below $5.7500 barrier, and begin forming bearish corrective waves by targeting $5.5500 level, approaching the waited target in our previous analysis.

Noting that the continuation of facing negative pressure might push the price to break $5.5100 support, and holding below it will confirm targeting new corrective stations that might begin at $5.4100 and $5.2800.

The expected trading range for today is between $5.5100 and $5.7800

Trend forecast: Bearish

The (ETHUSD) price rose in its last trading on the intraday basis, after breaking the main psychological support at $2,000, this support represents a target in our previous analysis, in attempting to recover some of its previous levels, attempting to offload some of its clear oversold levels on relative strength indicators, especially with the emergence of positive signals, amid the continuation of the negative pressure due to its trading below EMA50, reinforcing the stability and dominance of the main bearish trend on short-term basis, especially with its trading alongside steep minor bearish trend line.

The (Brent) price rose in its last intraday levels, after its leaning on EMA50’s support, gaining bullish momentum that helped it to achieve these gains, amid the dominance of the main bullish trend on short-term basis, with its trading alongside supportive trend line for this path, besides the emergence of positive signals from relative strength indicators, after reaching oversold levels, intensifying the chances of extending the gains on an intraday basis.

The (USDCHF) price declined in its last intraday trading, in attempt to gain bullish momentum that might help it to recover and rise again, with the emergence of positive signals from relative strength indicators, after offloading its overbought conditions in its previous trading, to enter a new bullish momentum, amid the dominance of bullish corrective wave on short-term basis with its trading alongside supportive trend line for this path, besides the continuation of the dynamic pressure that is represented by its trading above EMA50, reinforcing the chances of the price’s recovery in the upcoming period.