Copper price took advantage of the moving average 55 positivity, forming bullish waves to settle near $4.5150, attempting to confirm the suggested bullish scenario, the continuation of its stability above the extra support near $4.2600, so that will increase the chances for reaching the positive stations that begin at $4.6200 reaching the next barrier at $4.7500 level.
Note that stochastic attempts to exit the oversold level to reinforce the efficiency of the bullish track in the near and medium period.
The expected trading range for today is between $4.4200 and $4.7500
Trend forecast: Bullish
The (ETHUSD) price declined in its last intraday trading, due to its affection by breaking main bullish trend line previously on the short-term basis, with the continuation of the negative pressure that comes from its trading below EMA50, which formed a dynamic resistance that prevented the recovery attempts previously, with the emergence of the negative signals on the (RSI), after forming negative divergence after reaching exaggerated overbought levels compared to the price move, intensifying the negative pressures.
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The (Brent) price settled low in its last intraday trading, after gaining some positive momentum due to its lean on the support of its EMA50, which helped it to stop the losses bleeding in its previous trading, in an attempt to look for a base to support it to rise again, amid the dominance of the bullish correctional trend on the short-term basis and its trading alongside a bias line, noticing that the (RSI) reached oversold levels, exaggeratedly compared to the price move.
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The (silver) price expanded its gains in its last intraday trading, breaching $40.10 resistance, which represents a target in our previous forecast, amid the dominance of the main bullish trend on the short-term basis and its trading alongside main and minor bias line that reinforce the stability of this trend, especially with the continuation of the positive support that comes from its trading above EMA50, with the emergence of the positive signals on the (RSI), despite reaching overbought levels, which might obstacle the continuation of the upside moves on the intraday basis, due to the neediness to offload some of the overbought conditions.
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