Copper price began forming bullish waves yesterday, attempting to face the temporary negative pressure to reinforce the dominance of the main bullish scenario, to fluctuate near $5.0500 level now.

We expect to provide mixed trading, noting that the attempt to resume the bullish attack requires breaching the initial barrier near $5.2000, while the stability below it might force it to form corrective wave to reach towards the initial support at $4.7500.

The expected trading range for today is between $4.9500 and $5.2000

Trend forecast: Fluctuated

The (ETHUSD) price declined in its last intraday trading, to gather its bullish momentum that may help it to breach the current resistance at $2,950, attempting to surpass the negative pressure of EMA50, amid the dominance of bullish corrective wave on the intraday basis, supported by the emergence of the positive signals on the relative strength indicators, but the bearish trend remains the dominant and its trading alongside trend line.

The (Brent) price declined in its last intraday trading, amid the dominance of the main bearish trend and its trading alongside minor trend line on the short-term basis, with the continuation of the dynamic negative pressure that is represented by its trading below EMA50, reducing the chances of recovery on the near-term basis, especially with the beginning of forming negative divergence on the relative strength indicators after reaching overbought levels, exaggeratedly compared to the price move, with the emergence of negative overlapping signals.

Silver price kept rising in its last intraday trading, affected by breaching bearish corrective trend line on a short-term basis, with the emergence of the positive signals on the relative strength indicators, despite reaching overbought levels, to succeed in surpassing the negative pressure on the EMA50, announcing its full recovery, gaining renewed bullish momentum in the upcoming period.