Copper price failed in breaching the barrier at $6.5100, forcing it to delay the bullish trend and providing a clear negative rebound, to settle near $6.2500, the current decline will not affect the chances of renewing the bullish trend, depending on the stability of the extra support at $6.1000, to wait for gathering positive momentum and begin forming bullish waves, to repeat the pressure on the mentioned barrier.

While the decline below the additional support and providing negative close will increase the strength of the bearish corrective track, to expect suffering several losses by reaching $5.9200 and $5.8100.

The expected trading range for today is between $6.1500 and $6.5000

Trend forecast: Fluctuated within the bullish trend

(ETHUSD) kept declining in its latest intraday trading, to break a main bullish trend line on the short-term basis, accompanied by surpassing EMA50’s support, intensifying the likelihood of deepening these losses in the near upcoming period, especially with the emergence of positive signals from the relative strength indicators, after reaching oversold levels, which did not affect the price action, indicating the dominance of the selling powers.

Brent crude oil declined in its recent intraday trading, with the dominance of the bullish trend on the short-term basis with its trading alongside steep trend line that indicates the strength and dominance of this trend, especially with a continued dynamic support due to its trading above EMA50, to gather the gains of its previous rises, to attempt to offload its overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from them, to gather its bullish momentum that might help it recover and rise again. 

The USDCHF pair witnessed fluctuated trading on its last intraday levels, to gather the gains of its previous rises, attempting to offload some of its clear overbought conditions on the relative strength indicators, especially with the emergence of the negative signals from them, to gather its positive strength that might help it resume its strong gains in the near upcoming period, amid the continuation of the dynamic support that is represented by its trading above EMA50, which reinforces the chances of resuming these gains, especially with its trading alongside minor bullish trend line on the short-term basis.