Copper price took advantage of the initial support near $6.1000 by forming positive rebound, to settle near $6.2500 level, attempting to delay the previously suggested corrective trend, the continuation of forming extra barrier at $6.3800 level might force the price to renew the corrective attempts, to press on $6.1000 level breaking it will extend the trading towards $5.5900 reaching $5.8000 level.

While surpassing the barrier and holding above it will confirm its readiness to renew the bullish attempts, attempting to reach $6.5400 initially, which might record historical targets by its rally towards $6.7300.

The expected trading range for today is between $6.000 and $6.3500

Trend forecast: Bearish

Ethereum (ETHUSD) posted cautious gains during recent intraday trading as it attempts to correct the short-term bearish trend. However, downside pressure remains dominant due to continued trading below the EMA50, which limits the likelihood of a sustained recovery in the near term.

In addition, relative strength indicators have started to send negative signals after reaching overbought levels, suggesting weakening bullish momentum and increasing the risk of renewed selling pressure.

Brent crude oil settles with sharp losses during recent intraday trading, amid the emergence of negative signals from the relative strength indicators, after forming negative divergence that forced the price to surpass EMA50 support, intensifying the negative pressure to break main bullish trend line on the short-term basis, ending the hopes of its recovery and suggest recording more downside moves in the nearby upcoming period.

USDCHF rose slightly during recent intraday trading after earlier sharp losses, supported by positive momentum coming from the corrective upward trendline on the short-term timeframe. This helped the pair stabilize and regain some gains, especially as it continues trading above the EMA50, which adds additional supportive pressure for a potential recovery.

Relative strength indicators had previously reached overbought levels, followed by corrective signals, which contributed to the earlier decline. However, current conditions suggest a gradual stabilization in momentum.