Copper price remains affected by the bearish corrective trend, due to its stability below $6.5400 level, to notice resuming the attempts of gathering gains by reaching $6.1400, to approach the initial support at $6.1000.
The main indicators contradiction forces the price to delay the bullish attempts in the current period, to form mixed sideways trading, and there is a chance for reaching below the current support, to expect targeting $5.9500 and $5.8000, while activating the bullish trend depends on the stability above $6.3800.
Today's expected trading range is $6.1000 and $6.3000.
Trend forecast: Bearish
Ethereum continued its intraday decline, amid the dominance of a short-term bearish trend, with the price moves alongside supportive trendline for this path, besides the continuation of the negative and dynamic pressure due to its trading below EMA50, this bearish momentum is supported by negative signals from the relative strength indicators after reaching overbought conditions, which adds additional pressure on price stability and increases the likelihood of further downside movement.
Brent Crude Oil kept rising during recent intraday trading, benefited from the dynamic support that comes from its trading above EMA50, preparing to reach the key resistance at $109.00, amid the dominance of the main bullish trend on short-term basis, with its trading alongside supportive trend line for this path, beside the emergence of the positive signals from the relative strength indicators, despite its stability in overbought levels.
The (USDCHF) maintained its recent intraday gains, supported by ongoing positive and dynamic pressure as the pair continues to trade above EMA50, reinforcing the dominance of a short-term bullish corrective wave, especially as price action continues to move alongside a supportive trendline.
In addition, relative strength indicators are beginning to show a bullish crossover after offloading some of the previous overbought conditions, opening the way for extending gains in the near term.