Copper price activated since this morning’s trading to the positive signals from the main indicators, maintaining its position above the stable support level at $6.1000, as we notice the beginning of forming new upward waves that have settled it near $6.5000.
We reiterate that confirmation of the price’s readiness to resume the upward momentum will remain valid unless the resistance level at $6.6000 is broken. In that case, the price may shift into new sideways trading. However, a successful breakout and stability above this resistance would make it easier for the price to reach additional targets, which may start at $6.7800 and $6.9200.
The expected trading range for today is between $5.3500 and $6.6000
Trend forecast: Fluctuating
Thanks for your feedback.
Ethereum is holding onto its recent intraday gains after breaking above the key resistance at $1,700, supported by a short-term corrective uptrend, moving along an ascending trendline that reinforces the bullish structure.
MoreBrent crude oil extended its intraday losses, reinforcing the dominance of the short-term bearish trend. The price continues to move along a downward-sloping trendline, while remaining below the EMA50, which adds further dynamic resistance and limits any recovery attempts in the near term.
MoreUSDCHF declined during recent intraday trading, breaking a short-term ascending trendline. This move increased bearish pressure on the pair, pushing it below the EMA50, which now acts as a dynamic resistance and reinforces downside risks in the near term.
More