Copper price provided slow trading despite the presence of the positive factors, such as the main stability within the bullish channel’s levels by forming main support at $4.1100 level, besides the continuation of providing bullish momentum by the main indicators, specifically by forming an extra support by the moving average 55 by its stability near $4.3700.
Therefore, we will keep preferring the bullish scenario, to expect surpassing the barrier at $4.6200, to rally towards the positive stations at $4.7500 and $4.9500.
The expected trading range for today is between $4.5000 and 4.7500
Trend forecast: Bullish
The (ETHUSD) price declined in its last intraday trading, preparing to break the critical support at $4,100, amid the dominance of the bearish correction trend on a short-term basis, affected by breaking main bullish trendline, with the continuation of the negative pressure due to its trading below EMA50, after offloading its clear oversold conditions on the relative strength indicators.
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The (Brent) price declined in its last intraday trading, amid the dominance of the main bearish trend on the short-term basis, with the continuation of the negative pressure due to its trading below EMA50, which caused the failure if the previous recovery attempts, noticing the emergence of negative overlapping signals on the relative strength indicators, after offloading its oversold conditions, opening the way for recording more of the losses on the near-term basis.
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The (silver) price declined in its last intraday trading, after reaching our expected target at $44.05 resistance, attempting to gather the gains of its previous rises, gaining bullish momentum that might help it to breach this resistance, and attempting to offload some of the clear overbought conditions, amid the dominance of the main bullish trend on the short-term basis and its trading alongside supportive trend line.
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