Copper price continued providing sideways trading despite its stability within the main bullish channel’s levels, attempting to surpass stochastic negativity by its repeated stability above the extra support at $4.2600.
The sideways trading continues until gathering positive momentum, reinforcing the chances for achieving the positive targets that might begin at $4.3300 reaching 100%Fibonacci extension level at $4.7400.
The expected trading range for today is between $4.3300 and $4.6300
Trend forecast: Bullish
The (ETHUSD) price declined in its last intraday trading, due to the stability of the key resistance level at $4,360, accompanied by testing bearish correctional trend line on the short-term basis, amid the continuation of the negative pressure that comes from its trading below EMA50, intensifying the negative pressure on the price, especially with the emergence of negative overlapping signal on the price especially with the emergence of negative overlapping signal on the (RSI), after reaching overbought levels, which indicates the beginning of forming negative divergence.
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The (Brent) price extended its gains in its last intraday trading, attacking the key resistance at $66.65, this resistance represents a neckline of a technical positive formation on the short-term basis, represented by the double top pattern, taking advantage of the dynamic support that is represented by its trading above EMA50, with the emergence of the positive signals on the (RSI), despite reaching overbought levels.
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The (silver) price settled high in its last intraday trading, after witnessing sharp gains yesterday, to reach the resistance of EMA50, accompanied by testing minor bearish trend line on the short-term basis, intensifying the strength of this area as a critical resistance that will detect the upcoming trend on the near-term basis. The negative overlapping signals on the (RSI) add negative pressure on the price, after reaching overbought levels, exaggeratedly compared to the price move, to indicate forming negative divergence.
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