The intraday negative pressure increased on copper price trading due to stochastic attempt to exit from the overbought level, which forces it to settle below $5.9700, forcing it to form corrective waves by reaching $5.7900.

The price might decline towards the initial support at $5.7500 by the continuation of the negative pressure will increase the chances of breaking this support, to expect targeting extra corrective stations that begin at $5.6300 and $5.5100, while its success to step above $6.000 will open the way for recording new historical gains by its rally towards the bullish channel’s resistance at $6.1800.

The expected trading range for today is between $5.6300 and $5.9700

Trend forecast: Bearish

The (ETHUSD) price rose slightly in its last intraday trading, amid the dominance of the bullish trend and its trading alongside minor trend line on the short-term basis, and there is positive dynamic pressure that is represented by its trading above EMA50, after previous decline to look for rising low to help gain the required bullish momentum for its recovery, accompanied by positive overlapping signals from the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, indicating the beginning of forming positive divergence that reinforces the chances of the recovery on the near-term basis.

The (Brent) price declined in fluctuated trading on its last intraday levels, affected by breaking bullish corrective trend line on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, besides the emergence of negative overlapping signals on the relative strength indicators, after offloading its oversold conditions, opening the way for recording more losses on the near-term basis.

Silver price declined in its last intraday trading, amid its attempts to look for a rising low to take it as a base to help it gain the required bullish momentum for its recovery, amid the dominance of the main bullish trend on the short-term basis, and its trading alongside supportive line for this trend, taking advantage of the dynamic support that is represented by its trading above EMA50, besides the emergence of the positive signals from the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move.