Despite the weakness of copper’s last trading, providing negative closes below $6.3000 supports the chances of activating the bearish corrective trend in the near and medium period.

The current sideways trading is caused by the contradiction of the main indicators’ positivity against the negative stability below the previously mentioned barrier, therefore, we will keep waiting for gathering negative momentum to break $5.9500 level, to begin targeting negative stations, which might begin at $5.8200 and $5.7100.

The expected trading range for today is between $5.9500 and $6.2300

Trend forecast: Bearish

(ETHUSD) declined in its latest intraday trading, to gather the gains of its previous rises, attempting to gain bullish momentum that might help it to recover and resume its gains, amid the dominance of the bullish corrective trend on the short-term basis, with the continuation of the positive pressure that comes from its trading above EMA50, reinforcing the chances of a recovery in the near upcoming period, especially with the emergence of the positive signals from the relative strength indicators.

Brent crude oil rose in its recent intraday trading, supported by the emergence of the positive signals from the relative strength indicators after offloading some of its overbought conditions, to reach the resistance of EMA50, amid the dominance of the main bearish trend on the short-term basis, threatening these intraday gains and increasing the chances for resuming the decline again in the upcoming near period.

The USDCHF pair settled lower in its last intraday trading, amid the continuation of the negative pressure due to its trading below EMA50, with the emergence of the negative signals from the relative strength indicators, to notice entering exaggerated oversold levels compared to the price move, as a signal for a new bullish momentum that might push the pair to rise again, amid the dominance of the main bullish trend on the short-term basis, with its trading alongside supportive trend line for this path.