Copper price provided slow sideways trading yesterday, holding near $6.2500 level, surrendering to the previously suggested bearish correction trend, we expect the continuation of forming the initial main barrier at $6.6600 and providing negative momentum by stochastic will increase the chances of breaking $6.1000 level, to open the way for targeting extra corrective stations that might begin at $5.9600 and $5.8200.
The expected trading range for today is between $5.9600 and $6.3600
Trend forecast: Bearish
Ethereum (ETHUSD) declined in recent intraday trading as the short-term bearish trend remains in control. The price continues to move alongside supportive trend line for this path, with the continuation of the negative pressure due to its trading below EMA50, which limits sustainable recovery attempts in the near term, on the other hand, relative strength indicators are beginning to show a positive crossover after reaching oversold levels, which may help reduce the upcoming losses.
Brent crude recorded slight losses in recent intraday trading after earlier gains driven by stability at the $89.80 support level, which had been identified as a downside target in previous analysis. This rebound provided temporary bullish momentum and helped reduce oversold conditions as indicated by relative strength signals.
However, the short-term trend remains bearish, with prices continuing to trade below the EMA50, which reinforces dynamic resistance and adds to downside pressure. The overall structure still favors sellers, limiting any sustained recovery attempts.
USDCHF declined slightly in recent intraday trading to gather previous gains, attempting to gain bullish momentum that might help it resume profit taking, amid the dominance of the bullish trend on the short-term basis, with its trading alongside main and minor supportive trend line lines for this path, with the continuation of the positive pressure that comes from its trading above EMA50, besides the emergence of the positive signals from the relative strength indicators.