Copper price forced to provide more of the sideways trading, delaying its bullish attempts due to the contradiction between the main indicators by stochastic reach below 50 level, the main stability above the bullish channel’s support at $4.0500, besides the attempt of forming an extra support at $4.2600 level, we will keep our bullish suggestion in the current period trading, to wait for achieving some gains by its rally to $4.6300 reaching the next barrier near $4.7500.

Note that breaking the extra support will confirm the chances for providing strong pressure on the mentioned bullish channel’s support, to keep monitoring the price behavior according to this level by detecting the main trend in the upcoming period trading.

The expected trading range for today is between $4.2600 and $4.6300

Trend forecast: Bullish

The (ETHUSD) price declined in its last intraday trading, due to its reach to the resistance of its EMA50, accompanied by the (RSI) reach to the overbought conditions, to indicate a temporary lose for the bullish momentum, to decline in order to gain the required bullish momentum to recover and get rid of this negative pressure, attempting to offload its overbought conditions with the beginning of negative signals appearance from those indicators, amid the dominance of the main bullish trend on the short-term basis and its trading alongside a supportive bias line for this trend.

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The (Brent) price declined in its last intraday trading, amid the dominance of minor bearish wave on a short-term basis, with the continuation of the negative pressure due to its trading below EMA50. The last decline came after its success in offloading the clear oversold conditions on the (RSI), noticing the emergence of negative overlapping signals, which opens the way for recording more of the losses on a near-term basis.

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The (silver) price settled high in its last intraday trading, after breaching a bearish correctional trend line on the short-term basis, reinforcing the chances for the recovery and extending its intraday gains, on the other hand, the price remains under the negative pressure that comes from its trading below EMA50, besides the emergence of negative overlapping signal on the (RSI), after reaching overbought levels, which suggest the beginning of forming negative divergence, which might push the price to witness bearish correctional rebounds on the intraday basis that target offloading this overbought conditions.

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