Copper price provided a new positive close above $5.9700 level, reinforcing the efficiency of the bullish trend, recording clear gains by reaching $6.2100, approaching the second suggested target in the previous report.

The price gets positive momentum by stochastic, which attempts to settle within the overbought level, increasing the chances of surpassing $6.2600 level, to expect its rally towards $6.3800 resistance in the near period. 

The expected trading range for today is between $6.0400 and$6.3800

Trend forecast: Bullish

Ethereum (ETHUSD) continued to decline during its recent intraday trading, under pressure from sustained movement below EMA50. This reflects the dominance of a strong short-term downward corrective wave, which continues to weigh on price action.

At the same time, the relative strength indicators are showing negative signals after briefly easing some of their oversold conditions, which opens the door for additional downside pressure in the near term.

Brent crude oil declined during its recent intraday trading after holding firm below the current resistance level at $101.30. This comes amid a sharply descending short-term wave dominating price action, with continued negative pressure from trading below EMA50, which limits the chances of a full recovery in the near term.

Additionally, the relative strength indicators have reached heavily overbought levels compared to price movement, with early signs of a negative crossover, reinforcing the weakening bullish momentum.

The USDCHF pair extended its gains during recent intraday trading after holding firmly above the key support level at 0.7775, which provided positive momentum that helped the pair achieve these gains. This move was supported by positive signals from the relative strength indicators. However, those indicators quickly reached heavily overbought levels, signaling a rapid loss of positive momentum surrounding the pair.

At the same time, negative pressure remains in place as the pair continues trading below EMA50, reducing the chances of a full recovery in the near term.