Copper price remains needs positive momentum, which forces it to delay the previously waited bullish attack, to keep providing sideways trading near $4.9000, note that the stability above $4.7500 support is important, to keep waiting for gathering extra positive momentum to pave the way for surpassing the barrier near $5.0600, then begin recording some gains by its rally towards $5.2000 and $5.3200.
While facing new negative pressures and reaching below the current support might force it to form correctional trading, to suffer intraday losses by reaching $4.6200 followed by the moving average 55 near $4.4000.
The expected trading range for today is between $4.7500 and $5.2000
Trend forecast: Bullish
The (ETHUSD) price rose in its last trading on the intraday basis, due to the stability of the support level at $3,885, this support represents our expected target in our previous analysis, gaining positive momentum that helped it to achieve these gains that target recovering some previous losses, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of the main bearish trend on the short-term basis and its trading alongside trendline, noticing the negative signals on the relative strength indicators after offloading its oversold conditions in its previous moves, opening the way for recording more of the losses on the near-term basis.
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The (Brent) price settled with sharp decline in its last intraday trading, to reach $60.75, which represents our expected target in our previous analysis, amid the continuation of the negative pressure due to its trading below EMA50, and under the dominance of the main bearish trend on the short-term basis and its trading alongside trendline, besides the emergence of the negative signs on the relative strength indicators, despite reaching oversold levels.
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The (silver) price returned to rise in its last intraday trading, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trend line for the stability of this track, amid the continuation of the positive pressure due to its trading above EMA50, on the other hand, we notice the emergence of negative overlapping signals on the relative strength indicators, after reaching overbought levels, which might reduce the upcoming gains.
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