Copper price provided slow trading by its fluctuation near $5.1000 level, to keep the postive stability that depends on the stability of the extra support level at $4.7500. to increase the chances of gathering the required positive momentum to confirm the continuation of the positivity in the upcoming trading.
Therefore, we will keep our bullish suggestion, reminding you that surpassing $5.2000 level is important for opening the way for resuming the bullish attack and reaching the extra stations that begins at $5.3200.
The expected trading range for today is between $5.0500 and $5.3200
Trend forecast: Bullish
The (ETHUSD) price settled with sharp decline in its last intraday trading, amid the emergence of the negative signals on the relative strength indicators, attempting to look for rising low that might help it to recover, leaning on the support of its EMA50, providing strong chance for gaining this momentum, especially with the dominance of the bullish correction trend on the short-term basis and its trading alongside trendline, with the strength relative indicators reaching exaggerated oversold levels.
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The (Brent) price witnessed fluctuated moves at its last intraday levels, leaning on $63.70 support, after its previous attempts to look for rising low to help it recover the bullish momentum to support it to rally higher again, supported by its trading above EMA50, besides the beginning of forming positive divergence on the relative strength indicators, after reaching oversold levels, exaggeratedly compared to the price move, with the emergence of the positive signals.
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The (silver) price rose in its last trading on the intraday levels, due to the stability of $45.90 support, which represents our target in our previous analysis, gaining bullish momentum that helped it achieve these gains, to target recovering some previous losses, amid the dominance of the bearish corrective trend on the short-term basis, with the continuation of the dynamic pressure that is represented by its trading below EMA50, noticing the relative strength indicators reaching exaggerated overbought levels compared to the price move, which suggest forming negative divergence, especially with the emergence of negative crossover.
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