Copper price surrendered to the main indicators’ contradiction against the negative stability below $5.9700 barrier, forming bullish rebound this morning, to settle near $5.8300.

The stability of the barrier makes us expect providing mixed trading and gathering negative momentum, that might manage to renew the negative attempts, which might target $5.6200 level reaching $5.5100 support.

The expected trading range for today is between $5.6200 and $5.9000

Trend forecast: Bearish

Ethereum price (ETHUSD) fluctuated on its last intraday levels, attempting to gain some bullish momentum that might help it to surpass the negative pressure of EMA50, amid the dominance of bullish corrective wave on short-term basis, on the other hand, we notice the emergence of negative signals from relative strength indicators, after reaching overbought levels, threatening the bullish scenario on the intraday basis.

Brent crude oil continued to decline during its recent intraday trading, erasing all the gains recorded at the beginning of this week’s opening session. The price is currently attempting to find a higher low that could help rebuild the lost positive momentum, while the main short-term trend remains bullish.

The dynamic support remains intact as the price continues to trade above EMA50, which enhances the chances of a near-term recovery. In addition, the relative strength indicators have reached deeply oversold levels, excessively compared with the price movement, suggesting the potential formation of a positive divergence. 

The (USDCHF) price declined in its last trading on the intraday basis, breaking the key support at 0.7785, leading it to surpass EMA50, intensifying the negative pressure on the pair, increasing the possibilities of deepening its losses on near-term basis, with the emergence of negative signals from the relative strength indicators, after offloading its oversold levels, opening the way for recording more losses.