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Copper price loses the positive momentum – Forecast today – 6-11-2024

Economies.com
2024-11-06 05:37AM UTC

Copper price touched 4.4700$ level to form correctional bearish rebound by settling near 4.3400$, affected by the continuous contradiction between the major indicators, which forces it to provide new sideways trades by settling above 4.2600$ support line.

 

The price needs new positive momentum to manage to hold above 4.3900$ obstacle again followed by attempting to achieve additional gains by rallying towards 4.5400$ followed by reaching 4.6900$ barrier, while breaking the support will cancel the bullish overview and suffer many losses by crawling towards 4.1600$ first.

 

The expected trading range for today is between 4.2700$ and 4.5400$

 

Trend forecast: Bullish

Ethereum price (ETHUSD) achieves strong gains – Forecast today - 06-11-2024

Economies.com
2024-11-06 04:02AM UTC

Ethereum price (ETHUSD) rallied upwards by today’s open to breach 2432.00$ and achieve strong gains that reach 2600.05$ now, and we suggest the continuation of the rise to achieve additional positive targets that extend to 2664.30$ followed by 2750.00$.

 

Therefore, we expect to witness more rise in the upcoming sessions, taking into consideration that failing to confirm breaching 2600.05$ will put the price under negative pressure that targets visiting 2496.20$ followed by 2432.00$ areas again.

 

The expected trading range for today is between 2450.00$ support and 2750.00$ resistance.

 

Trend forecast: Bullish

 

Read more: Election Day 2024: How Today’s Trump vs. Harris Outcome Could Shape Financial Markets

Bitcoin price (BTCUSD) records new highs– Forecast today - 06-11-2024

Economies.com
2024-11-06 04:03AM UTC

Bitcoin price (BTCUSD) opens today’s trading with strong bullish rally to start recording new historical highs, as it surpassed 73817.90$ to head towards achieving positive targets that we expect to reach 76000.00$ followed by 77500.00$ areas as next positive stations.

 

Therefore, the bullish trend will be suggested for the upcoming sessions, noting that failing to consolidate above 73817.90$ will put the price under negative pressure and might start new correctional bearish wave before turning back to resume the long-term bullish trend.

 

The expected trading range for today is between 73500.00$ support and 77500.00$ resistance.

 

Trend forecast: Bullish

 

Read more: Election Day 2024: How Today’s Trump vs. Harris Outcome Could Shape Financial Markets

Wheat price declines calmly – Forecast today - 06-11-2024

Economies.com
2024-11-06 04:03AM UTC

Wheat price hovers around the bearish channel’s resistance, waiting to resume the bearish wave that targets 568.50$ followed by 555.60$ levels as next negative stations, noting that the technical indicators provide negative signals that support the expectations to decline in the upcoming sessions, noting that breaching 599.00$ will stop the expected decline and lead the price to achieve new bullish correction that its next main target reaches 623.70$.

 

The expected trading range for today is between 570.00$ support and 582.00$ resistance.

 

Trend forecast: Bearish

 

Read more: Election Day 2024: How Today’s Trump vs. Harris Outcome Could Shape Financial Markets