Copper price failed to record any new positive target until this moment, affected by forming a new obstacle at $4.5300 besides providing negative momentum by stochastic stability within the oversold levels.
The price might be forced to form negative trading, repeating the pressure on the extra support at $4.2600, as breaking it will increase the chances for reaching the support of the main bullish channel’s support at $4.0750.
The expected trading range for today is between $4.2600 and $4.5300
Trend forecast: Bearish by the stability of $4.5300
The (ETHUSD) price rose in its last intraday trading, attempting to offload some of its clear oversold on the (RSI), especially with the emergence of the positive signals from there, amid the dominance of the bearish correctional trend on the short-term basis, and its trading alongside a supportive bias line for this track, with the continuation of the negative pressure that comes from its trading below EMA50, intensifying the negative pressure around the price, and prevents the price recovery on the near-term basis.
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The (Brent) price declined in its last intraday trading, gathering its positive strength that might help it to keep the bullish correctional on the short-term basis, amid the continuation of the positive pressure that comes from its trading above EMA50, besides the emergence of the positive signals on the (RSI), after offloading its overbought conditions, opening the way for achieving more of the gains.
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The (silver) price rose in its last intraday trading, affected by breaching a minor bearish correctional bias line on the short-term basis, gaining bullish momentum that helped it to get rid of the negative pressure on the EMA50, besides the emergence of the positive signals on the (RSI), after offloading some of its overbought conditions, opening the way for achieving more of the gains on the near-term basis.
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