Copper price continued to resist stochastic negativity by its stability above the moving average 55, reinforcing the stability of the extra support near $4.2600, and the main stability within the bullish channel’s levels might increase the chances for activating the bullish attack by gathering the positive momentum, then begin targeting positive stations by its rally to $4.6200 reaching the next barrier near $4.7500.
The risk of changing the main trend is represented by the attempt to break the support of the main bullish channel at $4.060, which might force it to suffer big losses by reaching $3.8800.
The expected trading range for today is between $4.3000 and $4.6200
Trend forecast: Bullish
The (ETHUSD) price settled in its last intraday trading, affected by the stability of the critical and stubborn resistance level at $4,785, besides the emergence of the negative signals on the (RSI), despite reaching oversold levels, attempting to gain bullish momentum that might assist it to breach this resistance, amid the continuation of the positive pressure that comes from its trading above EMA50, representing dynamic support that reinforces the stability pf the bullish trend on the short-term basis and its trading alongside a minor bias line.
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The (Brent) price witnesses fluctuated trading on its last intraday levels, in attempt to gain bullish momentum that might help it to breach the key resistance at $67.60, taking advantage of the dynamic support that is represented by its trading above EMA50, affected by positive technical formation on the short-term basis, which is the double bottom pattern, besides the price success in offloading its overbought conditions that were clear on the (RSI), opening the way for achieving more of the gains.
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The (silver) price declined in its last intraday trading, after it succeeded in breaching the current resistance at $38.70, gathering the gains of its rises, attempting to gain bullish momentum that might help it to recover and rise again, and it attempts to offload some of its clear overbought conditions on the (RSI), especially with the emergence of negative overlapping signals from there, amid the continuation of the positive support that comes from its trading above EMA50, and under the dominance of the main bullish trend and its trading alongside a minor supportive line for this trend on the near-term basis.
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