Despite the weakness of copper price’s last trading, however the stability below the barrier at $6.6600 supports the chances of forming new bearish corrective waves due to the continuation of the negative pressure by stochastic.
We expect reaching the initial support at $6.1000, where surpassing it will open the way for reaching new corrective stations that might begin at $5.9600 and $5.8200.
The expected trading range for today is between $6.0000 and $6.3600
Trend forecast: Bearish
Ethereum (ETHUSD) declined in recent intraday trading, under continued bearish pressure as it remains below the EMA50, which reinforces the dominance of the short-term downtrend. Price action is also moving along a descending trendline, supporting the ongoing negative structure.
MoreBrent crude declined in recent intraday trading as it approaches a potential break below the $92.40 support level. The short-term corrective bearish trend remains in control, with the price moving along a downward-sloping trendline that reinforces ongoing selling pressure.
MoreUSDCHF maintained its recent gains in intraday trading after offloading its overbought condition on the relative strength indicators, opening the way for potential rise in the near term. Early signs of a positive crossover in momentum indicators suggest improving bullish strength.
More