Copper price began receiving bullish momentum by stochastic approach from 50 level, reinforcing the positive stability within the bullish track, besides the continuation of forming extra support at $4.7500 level.

We expect target $5.2000 barrier, surpassing it will lead to form new bullish waves to target more positive stations that begin at $5.3200 and %161.8 Fibonacci extension level near $5.5000.

The expected trading range for today is between $4.9800 and $5.2000

Trend forecast: Bullish

The (ETHUSD) price fluctuated on its last intraday levels, within limited range of sideways trading, attempting to gain bullish momentum that might help it to recover and rise again, affected by breaching main bearish trend line on the short-term basis, and there is dynamic support that is represented by its trading above EMA50, besides forming positive divergence on the relative strength indicators, after reaching exaggerated oversold levels, compared to the price move with the emergence of positive overlapping signals.

The (Brent) price rose in its last intraday trading, affected by its previous exit from bearish corrective channel’s range that limited its trading on the short-term basis, attacking the resistance of $62.95, accompanied by its attempt to surpass the negative pressure of EMA50, supported by the emergence of the positive signals on the relative strength indicators, despite reaching overbought levels.

Silver price settled higher in its last intraday trading, preparing to attack the key resistance level at $54.35, taking advantage of the dynamic support that is represented by its trading above EMA50, under the dominance of the main bullish trend on the short-term basis and its trading alongside trend line, noticing the emergence of the positive signals on the relative strength indicators, after offloading its overbought conditions, opening the way for achieving more gains on the near-term basis.