Copper prices forced to provide slow trading recently, due to the contradiction between the main indicators, fluctuating near $5.8500 level without recording any new corrective target.

Reminding you that the stability below $5.9700 barrier makes us keep the bearish corrective scenario, which might target $5.7200 level reaching $5.5100 support, while breaching the barrier will reinforce the chances of forming new bullish waves, to attempt to record extra gains by reaching $6.1200.

The expected trading range for today is between $5.5100 and $5.9500

Trend forecast: Bearish

The (ETHUSD) price declined slightly in its last intraday trading, after reaching EMA50’s resistance, putting it under negative pressure, which intensifies with the dominance of the main bearish trend on short-term basis. This decline came after offloading its oversold conditions on relative strength indicators, entering exaggerated overbought levels compared to the price move, indicating a quick fading in the bullish momentum.

The (Brent) price settles on gains in its last intraday trading, amid the dominance of the main bullish trend on short-term basis, with its trading alongside supportive trend line for this path, taking advantage of the positive pressure due to its trading above EMA50, reinforcing the chances of extending its intraday gains, especially with the emergence of positive signals from relative strength indicators, despite reaching overbought levels.

The (USDCHF) price settles on sharp losses in its last intraday trading, affected by breaking bullish corrective trend line on short-term basis, which makes the main bearish trend dominant, especially with the dynamic negative pressure that is represented by its trading below EMA50, which intensifies the negative pressures around the price, besides the emergence of negative signals from relative strength indicators, despite reaching oversold levels.