Copper price has recently shown slow sideways trading, maintaining its position near the $6.3000 level, affected by the ongoing conflict between the attempt of Stochastic to provide negative momentum and the positioning of the 55-period moving average below the current trading levels, as shown in the attached chart.

We remind you that the previously suggested bearish corrective scenario remains valid, based on the continuation of the $6.6000 level acting as a strong resistance barrier. This keeps the negative outlook in place, with the price likely targeting the $6.1000 level soon. A break below this obstacle would allow the price to reach further corrective stations, starting from $5.9200 and $5.8000 respectively.

The expected trading range for today is between $6.1000 and $6.4200

Trend forecast: Bearish

The price of (ETHUSD) rose in its recent intraday trading, driven by the stability of the important support level at $1,700. This provided the price with some positive momentum that helped it achieve these gains, as it attempts to get rid of the negative pressure from the 50-period simple moving average. This comes especially with the beginning of positive signals emerging from the Relative Strength Indicators, after the price succeeded in easing its overbought conditions, giving it greater ability to extend these gains in the near term.

Brent crude oil declined during recent intraday trading, after forming negative divergence by the relative strength indicators, after reaching exaggerated overbought levels compared to the price action, with the emergence of the negative signals from them, amid the continuation of the negative pressure due to its trading below EMA50, which reduces the chances of full recovery in the near upcoming period, amid the dominance of the main bearish trend on the short-term basis, with its trading alongside supportive trend line for this path.

The (USDCHF) maintains its gains during its recent intraday trading, attempting to breach 0.8075 resistance, which was our previous expected target. This comes as the pair is supported by the dominance of the main bullish trend in the short term, along with continuous dynamic support resulting from trading above its EMA50. Meanwhile, the relative strength indicators are showing the beginning of a positive crossover after the pair succeeded in easing its overbought conditions, giving it greater ability to extend these gains in the near term.