Despite the weakness of copper price’s last trading, the stability below $5.9700 level and providing bearish momentum by stochastic reaching below50 level makes us keep the bearish corrective scenario in the near-period trading, reminding you that the initial targets is located near $5.7200 and $5.5100 level.

While breaching the barrier and holding above it will reinforce the chances of forming new bullish waves, attempting to record some extra gains by reaching $6.1200.

The expected trading range for today is between $5.5100 and $5.9500

Trend forecast: Bearish

The (ETHUSD) price fluctuates in its last intraday trading, amid the continuation of negative pressure due to its trading below EMA50, reinforcing the strength and stability of the main bearish trend on short-term basis, on the other hand, we notice the emergence of positive signals from relative strength indicators, after reaching oversold levels, which helped the price to settle.

The (Brent) price rose on its last intraday levels, taking advantage of the positive signals from relative strength indicators, after offloading its overbought conditions, opening the way for extending its intraday gains in the upcoming period, amid the continuation of the dynamic pressure that is represented by its trading above EMA50, with its trading alongside main bullish trend line on short-term basis that reinforces the bullish scenario.

The (USDCHF) price declined in its last intraday trading, amid the continuation of the negative pressures due to its stability below EMA50, which reinforces the dominance of the main bearish trend on short-term basis, especially with the trading alongside supportive trend line for this path.

At the same time, we notice negative overlapping signals by the relative strength indicators after reaching exaggerated overbought levels compared to the price move, adding selling pressure and prefer the continuation of the weakness in near period.